Legislation

Update on HDMA Rules

By |2023-01-10T11:31:30-06:00January 11th, 2023|Advocacy|0 Comments

AAPL sends letter to Congress urging definition change that exempts business-purpose loans. Effective Jan. 1, 2018, Congress enacted new Home Mortgage Disclosure Act rules requiring most private lenders to furnish a 110-data-point Loan Activity Report to the Consumer Financial Protection Bureau (CFPB) for each residential mortgage loan application taken, regardless of a loan’s business or [...]

By |2023-01-10T11:31:30-06:00January 11th, 2023|Advocacy|0 Comments

Update on State and Local Lending Issues

By |2022-05-10T14:22:12-05:00April 24th, 2022|Advocacy|0 Comments

The devil is in the details, so the GRC relies on AAPL members to alert us to proposed legislation that could impact the industry. The AAPL Government Relations Committee endeavors to monitor legislation that may impact you—both positively and negatively. Much of this legislation is at the federal level,including recent foreclosure restrictions, changes involving the [...]

By |2022-05-10T14:22:12-05:00April 24th, 2022|Advocacy|0 Comments

Active Legislation Alert

By |2022-07-06T09:59:11-05:00April 22nd, 2022|Advocacy|0 Comments

Proposed California and New York bills will significantly impact private lenders. When it rains, it pours. Within 10 days of each other, California and New York proposed legislation impacting our industry. As of the time of publishing, California seeks to add a capital gains tax to nearly all residences sold within seven years of purchase, [...]

By |2022-07-06T09:59:11-05:00April 22nd, 2022|Advocacy|0 Comments

Grassroots Efforts Make Inroads Against Legislation Impacting Private Lending

By |2022-02-04T19:51:01-06:00January 6th, 2022|Advocacy, Featured|0 Comments

Spearheaded by our Government Relations Committee, AAPL wrapped up its third year of legislative activity with some definite wins. As we continue our grassroots mobilization efforts and build strategies for how and when we talk to policymakers, we wanted to provide you—our constituents—with a frank, no-holds-barred and transparent accounting of what’s happening and where we’re [...]

By |2022-02-04T19:51:01-06:00January 6th, 2022|Advocacy, Featured|0 Comments

Business-Purpose Loans Should Be Exempt from Relief Measures

By |2021-03-29T15:46:09-05:00March 29th, 2021|Advocacy, Featured|0 Comments

AAPL opposes foreclosure moratoriums and mandatory forbearance on business-purpose loans. COVID-19 has created some of the most far-reaching impacts our industry has seen. It is no surprise then that governments at all levels took some measure of direct action to guard against one immediate negative consequence of that health crisis: skyrocketing unemployment. A consequence of [...]

By |2021-03-29T15:46:09-05:00March 29th, 2021|Advocacy, Featured|0 Comments

Business-Purpose Loans Should Not Be Subject to Mortgage Lender Licensing

By |2021-03-15T16:05:02-05:00March 15th, 2021|Advocacy, Featured|0 Comments

AAPL advocates for national business-purpose loan exemption from mortgage licensing. Generally, private lenders in states that require a mortgage lender license to make a business-purpose loan are already licensed, and those in states that do not require a license are not licensed. What is probably more surprising is that private lenders who make loans in [...]

By |2021-03-15T16:05:02-05:00March 15th, 2021|Advocacy, Featured|0 Comments

What Is the Biggest Legislative Challenge Facing the Private Lending Industry?

By |2020-12-11T15:14:08-06:00December 11th, 2020|Advocacy|0 Comments

This year, AAPL’s Government Relations Committee (GRC) has tackled a wide range of issues on behalf of the private lending community. In New York, Senate Bill S3060E sought to increase the transfer tax on fix-and-flip residential property by 15% to 20%. The bill saw no movement this year, although it is unclear if it was [...]

By |2020-12-11T15:14:08-06:00December 11th, 2020|Advocacy|0 Comments

California’s Tenant, Homeowner, and Small Landlord Relief and Stabilization Act of 2020 Becomes Law

By |2020-12-11T14:54:40-06:00December 11th, 2020|Advocacy|0 Comments

Here’s what lenders need to know about how it protects tenants and landlords. On Aug. 31, 2020, AB 3088, known as the Tenant, Homeowner, and Small Landlord Relief and Stabilization Act of 2020, was signed into law. The law went into effect immediately. AB 3088 is an omnibus bill that incorporates many smaller tenant and [...]

By |2020-12-11T14:54:40-06:00December 11th, 2020|Advocacy|0 Comments

California Passes SB 1079 – Creating Right of First Refusal After Trustee Sales

By |2020-10-06T13:44:27-05:00October 5th, 2020|Advocacy, News|1 Comment

In another unprecedented move, Governor Newsom signed SB 1079 into law on September 28. The bill will completely reshape the foreclosure process in California. Previously, an auction of property at a foreclosure sale set the final price of the property and provided marketable title to the buyer of the property or the lender if the [...]

By |2020-10-06T13:44:27-05:00October 5th, 2020|Advocacy, News|1 Comment

CDC Imposes National Eviction Moratorium Through EOY 2020

By |2021-06-08T13:03:21-05:00September 8th, 2020|Advocacy, News|0 Comments

In an unprecedented move, the Centers for Disease Control and Prevention (CDC) issued a temporary order (“Order”) halting evictions nationwide through December 31, 2020. This move was not necessarily unexpected. On August 8, 2020, President Trump issued an Executive Order ordering the CDC and other federal agencies to look into a potential eviction moratorium to [...]

By |2021-06-08T13:03:21-05:00September 8th, 2020|Advocacy, News|0 Comments

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