Texas Mortgage Bankers Political Action Committee

The Official Political Action Committee for the Texas Mortgage Bankers Association

“Every member earns a living from the real estate finance industry in Texas and needs to make a contribution to the TMBA PAC. Our businesses and our customers are impacted by legislation and our contributions help to make sure our voices are heard.” Matt Kiker, TMBA President 2023-2024

2023 Legislature Action—TMBA’s efforts protect and further the interests of mortgage lenders:

  • A bill was passed to authorize and establish procedures for remote online notarization of “wet ink” signatures (RIN)). TMBA collaborated with title company colleagues to ensure that the new law maintains the safeguards in our online notary statute and to ensure that definitions used in the amendments adopted language consistent with definitions in other law.

  • Clarified the penalty provisions of a new law that requires mortgage servicers provide borrowers/file a release of lien in the real property records within specific time periods after payoff. As a result, violations of these new requirements will not result in harsher penalties.

  • Opposed HB 2632 related to the advertising of reverse mortgages. As written, the bill purported to curtail deceptive advertising for reverse mortgages, but would have imposed an unworkable and completely subjective standard for what would be considered deceptive or misleading. The bill did not move.

  • Supported the passage of HB 207, which excludes certain conveyances of homestead property from the definition of a “pretend sale.” The final version of HB 207 included amendments proposed by the TMBA to clarify homestead property may also be disclaimed or abandoned per existing law, preserving the validity of certain transactions made before the new law was enacted.

  • Supported the passage of HB 2127 which prohibits local governments from passing ordinances governed by the Finance Code. Accordingly, municipalities will not be able to attempt to regulate mortgage origination, impose Community Reinvestment standards, or impose foreclosure moratoriums.

  • Opposed several bills that did not pass (as of today’s date) related to the restriction of foreign ownership of Texas real estate. Real Estate Industry trade associations, including the lender trade associations, were aligned in opposing all but one of these bills because of concern that the bills violated both the US and Texas Constitution relating to equal protection of law, the federal Fair Housing Act, and the Equal Credit Opportunity Act.

  • Advocated to amend HB 4635 (related to organized crime) before passage. The amendment corrected the definition of “unlawful debt,” which, as filed, could have resulted in racketeering and felony prosecution of violators for mere technical and inadvertent violations of the Finance Code. After intense opposition by the TMBA and other groups, this new law was revised to track the federal RICO statute definition and avoid unjust prosecution of minor violations.

About the TMBPAC

Mission Statement:  The TMBPAC’s mission is to provide funds and direction for action to be taken on legislative initiatives. Our goal is to provide funds necessary to promote TMBA legislative objectives, while encouraging total member involvement of contributions from each mortgage banker in the State of Texas.

Contribution Information:  All PAC contributions, like all other political contributions, must be made by individuals. Contributions can be accepted from individuals, sole proprietorships, partnerships and other political action committees. Corporations cannot fund TMBPAC. Mortgage bankers who operate as an individual or on an entrepreneur basis can contribute in that individual capacity. All political contributions are of public record and all PAC’s are required to make periodic reports to the Texas Ethic’s Commission of all contributions made to candidates. A PAC can make a contribution to another PAC unless it is precluded by its bylaws or governing documents. Contributions made to the TMBPAC are neither deductible as a business expense nor as a charitable contribution.

Why It's Important

TMBA faces the challenge to protect Texans in the real estate finance industry by proactively supporting legislative initiatives that move us forward. It is important for us to draw upon our collective experience to educate the Texas Legislature about financial services that are beneficial to Texans, as well as the real estate finance industry. What happens in Austin is critical to the ability of mortgage lenders to engage in mortgage lending fairly and profitably in this State.

Your TMBPAC contribution works collectively with that of other mortgage industry professionals and go directly to candidates who share our philosophies and listen to our viewpoints.  The TMBPAC is a vehicle for individuals to collectively become involved in the political process in support of issues important to their work and lives. Help protect the mortgage industry in Texas by making a contribution to the TMBPAC today!

Collectively, we can make a greater impact in shaping elections than we can individually. Make a contribution to the TMBPAC and join with other industry professionals to help determine who gets elected to public office in this State and who will make the crucial decisions that affect our businesses.