Community Choice in Real Estate Act

HR.111, Community Choice in Real Estate Act

Client expense: Not reported · Firm income: $120,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 3882 Financial Safety and Equity Act of 2005 For H.R. 3505 Financial Services Regulatory Relief Act of 2005 For H.R. 3909 Hurricane Check Cashing Relief Act of 2005 For H.R. 3922 Retroactive Flood Insurance NP H.R. 3945 Hurricane Katrina Financial Services Relief Act of 2005 For H.R. 3997 Financial Data Protection Act of 2005 For H.R. 4100 Louisiana Recovery Corporation Act For H.R. 4127 Data Accountability and Trust Act NP H.R. 4133 National Flood Insurance Program Further Enhanced Borrowing Authority Act ’05 For H.R. 4146 Hurricanes Rita and Wilma Financial Services Relief Act of 2005 For H.R. 4320 National Flood Insurance Program Reform For H.R. 4411 Internet Gambling Prohibition and Enforcement Act (as introduced) NP H.R. 4411 Internet Gambling Prohibition and Enforcement Act (as passed) For H.R. 4777 Internet Gambling Prohibition Act NP H.R. 5122 Talent “Payday Lending” Amendment (to DoD Approps bill Against H.R. 5341 Seasoned Customer CTR Exemption Act of 2006 For H.R. 5405 COMPETE Act For H.R. 5746 Industrial Bank Holding Company Act of 2006 For H.R. 4973 Flood Insurance Reform and Modernization act of 2006 NP Bank broker regulations NP Consumer data security NP Regulatory Relief For Legislation to bar federal pre-emption by the OCC Against Risk-based capital requirements for banks NP Sarbanes-Oxley Act relief for community banks For Corporate governance requirements NP Relief from securities law requirements for small companies For Federal Home Loan Bank advances and collateral NP Federal Home Loan Bank System issues NP Separation of banking and commerce For Payments system issues NP Bank Secrecy Act and anti-money laundering issues NP Securities activities of banks NP Bringing ILC’s under the Bank Holding Company Act For Credit card/debit card interchange fees NP Deposit insurance reform implementation rules NP Commercial real estate lending guidelines, as proposed Against Federal Housing Finance Board retained earnings capital rule, as proposed Against ILC applications by commercial companies Against S. 190 Federal Housing Enterprise Regulatory Reform Act of 2005 (as introduced) For S. 190 Federal Housing Enterprise Regulatory Reform Act of 2005 (as passed by SBC) Against S. 500 Information Protection and Security Act NP S. 751 Notification of Risk to Personal Data Act NP S. 768 Comprehensive Identity Theft Prevention Act NP S. 1326 Notification of Risk to Personal Data Act NP S. 1332 Personal Data Privacy and Security Act of 2005 NP S. 1408 Identity Theft Protection Act NP S. 1461 Consumer Identity Protection and Security Act NP S. 1568 Communities First Act For S. 1765 Louisiana Katrina Reconstruction Act For S. 1766 Louisiana Katrina Reconstruction Act For S. 1932 Deficit Reduction Act for 2005 For S. 2856 Financial Services Regulatory Relief Act of 2006 For S. 3568 Data Security Act of 2006 For S. 3589 Flood Insurance Reform and Modernization Act of 2006 NP H.R. 111 Community Choice in Real Estate Act Against H.R 399 Rural Economic Investment Act of 2005 NP H.R. 461 Military Personnel Financial Services Protection Act NP H.R. 1080 Information Protection and Security Act NP H.R. 1099 Anti-phishing Act of 2005 NP H.R. 1182 Prohibit Predatory Lending Act NP H.R. 1263 Consumer Privacy Protection Act of 2005 NP H.R. 1295 Responsible Lending Act NP H.R. 1461 Federal Housing Enterprise Regulatory Reform Act of 2005 For H.R. 1745 Social Security Number Privacy and Identity Theft Prevention Act of 2005 NP H.R. 2061 Communities First Act For H.R. 2317 Credit Union Regulatory Improvements Act of 2005 Against H.R. 2660 Fair Choice and Competition in Real Estate Act of 2005 For H.R. 3206 Credit Union Charter Choice Act For S. 238 Rural Economic Investment Act of 2005 NP S. 29 Social Security Number Misuse Prevention Act NP S. 98 Community Choice in Real Estate Act Against S. 116 Privacy Act of 2005 NP

H.R. 111/S. 98 - Community in Real Estate Act would prohibit financial holding companies and national banks from engaging, directly or indirectly, in real estate brokerage or real estate management activities. H.R. 1182 - Prohibit Predatory Lending Act would amend the Truth in Lending Act to impose restrictions and limitations on high-cost mortgages, to revise the permissible fees and charges on certain loans made, to prohibit unfair or deceptive lending practices, and to provide for public education and counseling about predatory lenders. H.R. 1295- Responsible Lending Act would protect consumers against unfair and deceptive practices in connection with higher cost mortgage transactions, strengthen the civil remedies available to consumers under existing law, provide for certain uniform lending standards, improve housing counseling, better mortgage servicing, enhance appraisal standards and oversight, and establish licensing and minimum standards for mortgage brokers. H.R. 5746 - Industrial Bank Holding Company Act of 2006 would require an industrial bank holding company to register and file certain reports with the Federal Deposit Insurance Corporation (FDIC) within ninety days after becoming an industrial bank holding company, prohibit such holding company from being controlled by a commercial firm, and grandfathers certain institutions to exempt them from the requirements of this Act. Comment Letter on Industrial Loan Company Applications - Comment letter was sent to Federal Deposit Insurance Corporation (FDIC) concerning their consideration for the application filed by Wal-Mart Stores and Home Depot to become an industrial loan company (ILC). Comment Letter on Nontraditional or Exotic Loans - Comment letter was sent to the Office of the Comptroller of the Currency (OCC) concerning nontraditional loans and if stated income should be allowed for underwriting as well as whether future income should be considered. If future income is considered in underwriting, how should it be done and will it only be allowed as a positive or also as a negative. The OCC was requesting comments on nontraditional loans and if they are becoming a risk to the economy as they are becoming easier to obtain and being offered to borrowers with a higher probable risk.

S98 - COMMUNITY CHOICE IN REAL ESTATE ACT HR 111 - COMMUNITY CHOICE IN REAL ESTATE ACT HR 1185 FEDERAL DEPOSIT INSURANCE REFORM ACT OF 2005 HR 1224 BUSIENSS CHECKING FREEDOM ACT OF 2005 HR 1226 - UNITED STATES FINANCIAL POLICY COMMITTEE FOR FAIR CAPITAL STANDARDS ACT HR 2660 - FAIR CHOICE AND COMPENSATION IN REAL ESTATE ACT OF 2005 HR 3505 - FINANCIAL INSTITUTIONS REGULATORY RELIEF ACT S 1502 - PRESERVATION OF FEDERALISM IN BANKING ACT HR 3426 - PRESERVATION OF FEDERALISM IN BANKING ACT S 1586 - INTEREST ON BUSINESS CHECKING ACT OF 2005 S 1562 - SAFE AND FAIR DEPOSIT INSURANCE ACT OF 2005

Client expense: $883,400 · Firm income: Not reported

Government targets: Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Labor, Dept of (DOL), Patent & Trademark Office (PTO), SENATE

S 98 - COMMUNTIY CHOICE IN REAL ESTATE ACT HR 111 - COMMUNITY CHOICE IN REAL ESTATE ACT HR 1185 - FEDERAL DEPOSIT INSURANCE REFORM ACT OF 2005 HR 1224 - BUSINESS CHECKING FREEDOM ACT OF 2005 HR 1226 - UNITED STATES FINANCIAL POLICY COMMITTEE FOR FAIR CAPITAL STANDARDS ACT HR 2660 - FAIR CHOICE AND COMPENSATION IN REAL ESTATE ACT OF 2005 HR 3505 - FINANCIAL INSTITUTIONS REGULATORY RELIEF ACT S 1502 - PRESERVATION OF FEDERALISM IN BANKING ACT HR 3426 - PRESERVATION OF FEDERALISM IN BANKING ACT

Client expense: $637,000 · Firm income: Not reported

Government targets: Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Labor, Dept of (DOL), Patent & Trademark Office (PTO), SENATE

HR 111/ S 98 Community Choice in Real Estate Act, S 621 Depreciation for LEasehold Improvements

Client expense: Not reported · Firm income: $40,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

S. 98/H.R. 111, The Community Choice in Real Estate Act, would ensure that banks would not be allowed to engage in the selling or direct purchasing of property. H.R. 176, The FHA Single Family Loan Limit Adjustment Act, would raise the FHA loan limit to 100% of the conforming loan limit, which is currently $359,650. S. 256, The Bankruptcy Abuse Prevention and Consumer Protection Act, would reform bankruptcy laws to close the loophole that allows tenants to circumvent well-established state and local eviction laws, provide a 90-day stay from creditors for all commercial properties, offer protection for shopping-center owners and tenants by clarifying the rights of bankrupt retailers to honor the terms of their leases, and protect homeowner/condo association members by requiring owners in bankruptcy to pay their accrued fees. H.R. 378, The Homeowners' Emergency Mortgage Assistance Act, would restore home mortgage assistance through the FHA single-family mortgage insurance program. H.R. 1182/H.R. 1295, The Prohibit Predatory Lending Act and The Responsible Lending Act, are federal anti-predatory lending bills that would defined what loans are covered under the act, create counseling to educate consumers, and set civil liability penalties. H.R. 1461/S. 190, The Federal Housing Finance Reform Act and The Federal Housing Enterprise Regulatory Reform Act, addresses Government Sponsored Enterprise's (GSE)issues including; a new regulator, brightline, program approval, portfolio limitations, and conforming loan limits. H.R. 3043, Zero Downpayment Pilot Program Act, Amends the National Housing Act to authorize the Secretary of HUD to insure zero-downpayment mortgages for one-family residences FDIC Notice of Public Hearing on the Financial Services Roundtable petition for state-chartered banks to preempt a host state's laws. The petition asked "the FDIC to issue a rule that preempts the application of certain state laws to the interstate operations and activities of state banks." The OCC, FDIC, and Federal Reserve System's joint notice of proposed rulemaking on the Community Reinvestment Act (RIN 1557-AB98). The proposed rule would create a third category in which banks are classified by the size of their assets. HUD's proposal to require mortgagees of FHA-insured mortgages to collect as part of the monthly mortgage payment an escrow of the amounts necessary for the payment of condominium or homeowners associaiton fees. Ginnie Mae's requirment that FHA insured mortgages that are prepaid still accumulate interest until the last day of the month that the prepayment is made. Federal Reserve's decision to implement the Basel II Accord. This Accord would update the original Basel Capital Accord from 1988. The U.S. Department of the Trasury is considering defining REALTORS as "Financial Institutions," in that it relates to the application of the anti-money laundering program of the USA PATRIOT Act. HUD's consideration of altering the Real Estate Settlement Procedures Act and its application. The creation of a Federal Housing Authority subprime loan product for borrowers who would not meet traditional underwriting standards with respect to credit history; but meet the debt income and repayment ability standards. HUD's interim rule to enable the Secretary to insure five-year hybrid ARMS with interest rates adjustable up to two percentage points annually.

H.R. 111/S. 98-Community Choice in Real Estate Act would ensure that banks would not be allowed to engage in the selling or direct purchasing of property. H.R. 1357-Homeowners Emergency Assistance Act would restore home mortgage assistance through the FHA single-family mortgage insurance program. H.R. 1443-Access to Affordable Mortgages Act would change language in laws that allow for ARMs, so they state that ARMs are capped at 1% for terms of 3 years and under, as opposed to the current 5 years and under. S. 1928-Predatory Lending Consumer Protection is a federal anti-predatory lending bill containing case-by-case review of a borrower's ability to repay the loan and no assignment of liability. H.R. 2575-Secondary Mortgage Market Enterprises Regulatory Improvement Act would amend the Homeowners' Loan Act to rename the Office of Thrift Supervision as the Office of Housing Finance Supervision, giving this office direct authority over Fannie Mae and Freddie Mac to ensure they are financially safe and adequately capitalized. H.R. 2803-Housing Finance Regulatory Restructuring Act would establish the Office of Housing Finance Oversight in the Department of the Treasury to ensure the financial safety and soundness of Fannie Mae, Freddie Mac, and the Federal home loan banks. H.R. 284/S. 5958-Housing Bond Fairness Act would rescind the sunset date on Mortgage Revenue Bonds, create a new qualifying system, and makes housing credit apartment production viable in rural areas. H.R. 975-Bankruptcy Abuse Prevention and Consumer Protection Act would reform bankruptcy laws to force people with the ability to repay their debts to file under Chapter 13, where courts establish repayment plans, instead of Chapter 7, which erases debts. H.R. 3507-Improving Homeownership in High Cost Areas, this bill would increase the conforming loan limit for states with a Statistical Metropolitan Area above the regular conforming loan limit. H.R. 3755-Zero Downpayment Act, amends the National Housing Act to authorize the Secretary of HUD to insure zero-downpayment mortgages for one-family residences. H.R. 4110-FHA Single Family Loan Limit Adjustment Act, would amend the National Housing Act to increase Federal Housing Administration (FHA) single family mortgage limits. Federal Reserve's decision to implement the Basel II Accord. This Accord would update the original Basel Capital Accord from 1988. The U.S. Department of the Treasury is considering defining REALTORS as "Financial Institutions," in that it relates to the application of the anti-money laundering program of the USA PATRIOT Act. The Creation of a Federal Housing Authority sub-prime loan product for borrowers who would not meet traditional underwriting standards with respect to credit history; but meet the debt income, and repayment ability standards. The proposed HUD rule to expand its offerings of adjustable rate mortgage products on FHA insured mortgages. The rule would create ARM products, the interest rate for 3 year and 5 year ARMs cannot change by more than 1% for the life of the loan. For 7 year and 10 year ARMs, the maximums are 2% annually and 6% for the life of the loan. Fannie Mae's and Freddie Mac's rule change that would boost interest rates for fees on cash-out refinancing that involve loans of more than 70% of a home's value, which could stop homeowners from tapping their equity. HUD's proposed rule on the Real Estate Settlement Procedures Act and its application. The OCC rule stating it "occupies the field" for all laws regarding national banks (Published at 69 Fed. Reg. 1895 (2004)). Ginnie Mae requirement that FHA insured mortgages that are prepaid still accumulate interest until the last day of the month that the prepayment is made. HUD's final rule on FHA multifamily loan limits. HUD's proposal to require mortgagees of FHA-insured mortgages to collect as part of the monthly mortgage payment an escrow of the amounts necessary for the payment of condominium or homeowners association fees.

HR. 522 - Federal Deposit Insurance Reform Act of 2003 HR. 453 - Municipal Deposit Insurance Protection Act of 2003 HR. 1375 - Financial Services Regulatory Relief Act of 2003 HR. 111 - Community Choice in Real Estate Act S. 299 - Safe and Fair Deposit Insurance Act of 2003 S. 913 - Deposit Insurance Fairness and Economic Opportunity Act H.AMDT.659 to HR. 4754 - Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 2005

Client expense: $482,687 · Firm income: Not reported

Government targets: Federal Communications Commission (FCC), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Labor, Dept of (DOL), SENATE, Treasury, Dept of

H.R. 111/S. 98-Community Choice in Real Estate Act would ensure that banks would not be allowed to engage in the selling or direct purchasing of property. H.R. 1357-Homeowners Emergency Assistance Act would restore home mortgage assistance through the FHA single-family mortgage insurance program. H.R. 1443-Access to affordable Mortgages Act would change language in laws that allow for ARMs, so they state that ARMs are capped at 1% for terms of 3 years and under, as opposed to the current 5 years and under. S. 1928- Predatory Lending Consumer Protection is a federal anti-predatory lending bill containing case-by-case review of a borrower's ability to repay the loan and no assignment of liability. H.R. 2575-Secondary Mortgage Market Enterprises Regulatory Improvement Act would amend the Homeowners' Loan Act to rename the Office of Thrift Supervision as the Office of Housing Finance Supervision, giving this office direct authority over Fannie Mae and Freddie Mac to ensure they are financially safe and adequately capitalized. H.R. 2803-Housing Finance Regulatory Restructuring Act would establish the Office of Housing Finance Oversight in the Department of the Treasury to ensure the financial safety and soundness of Fannie Mae, Freddie Mac, and the Federal home loan banks. H.R. 284/S. 595-Housing Bond Fairness Act would rescind the sunset date on Mortgage Revenue Bonds, create a new qualifying system, and makes housing credit apartment production viable in rural areas. H.R. 975-Bankruptcy Abuse Prevention and Consumer Protection Act would reform bankruptcy laws to force people with the ability to repay their debts to file under Chapter 13, where courts establish repayment plans, instead of Chapter 7, which erases debts. H.R. 3507-Improving Homeownership in High Cost Areas, this bill would increase the conforming loan limit for states with a Statistical Metropolitan Area above the regular conforming loan limit. H.R. 3755-Zero Downpayment Act, amends the National Housing Act to authorize the Secretary of HUD to insure zero-downpayment mortgages for one-family residences. H.R. 4110-FHA Single Family Loan Limit Adjustment Act, would amend the National Housing Act to increase Federal Housing Administration (FHA) single family mortgage limits. Federal Reserve's decision to implement the Basel II Accord, the purpose of which is to reduce risk exposure to global economic cycles and level the playing field for large international banks. This Accord would update the original Basel Capital Accord from 1988. The U.S. Department of the Treasury is considering defining REALTORS as "Financial Institutions:, in that it related to the application of the anti-money laundering program of the USA PATRIOT Act. The Creation of a Federal Housing Authority sub-prime loan product for borrowers who would not meet traditional underwriting standards with respect to credit history; but meet the debt, income, and repayment ability standards. The proposed HUD rule to expand its offerings of adjustable rate mortgage products on FHA insured mortgages. The rule would create ARM products, the interest rate for 3 year and 5-year ARMs cannot change by more than 1% for the life of the loan. For 7-year and 10-year ARMs, the maximums are 2% annually and 6% for the life of the loan. Fannie Mae's and Freddie Mac's rule change that would boost interest rates or fees on cash-out refinancing that involve loans of more than 70% of a home's value, which could stop homeowners form tapping their equity. HUD's proposed rule on the Real Estate Settlement Procedures Act and its application. The OCC rule stating it "occupies the field" for all laws regarding national banks (Published at 69 Fed. Reg. 1895 (2004)). Ginnie Mae requirement that FHA insured mortgages that are prepayed still accumulate interest until the last day of the month that the prepayment is made. HUD's final rule on FHA multifamily loan limits.

HR. 522 - Federal Deposit Insurance Reform Act of 2003 HR. 453 - Municipal Deposit Insurance Protection Act of 2003 HR. 1375 - Financial Services Regulatory Relief Act of 2003 HR. 111 - Community Choice in Real Estate Act S. 299 - Safe and Fair Deposit Insurance Act of 2003 S. 913 - Deposit Insurance Fairness and Economic Opportunity Act

Client expense: $540,000 · Firm income: Not reported

Government targets: Federal Communications Commission (FCC), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Labor, Dept of (DOL), SENATE, Treasury, Dept of

HR. 522 - Federal Deposit Insurance Reform Act of 2003 HR. 453 - Municipal Deposit Insurance Protection Act of 2003 HR. 1375 - Financial Services Regulatory Relief Act of 2003 HR. 111 - Community Choice in Real Estate Act S. 299 - Safe and Fair Deposit Insurance Act of 2003 S. 913 - Deposit Insurance Fairness and Economic Opportunity Act

Client expense: $540,000 · Firm income: Not reported

Government targets: Federal Communications Commission (FCC), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Labor, Dept of (DOL), SENATE, Treasury, Dept of

H.R. 111 / S. 98 - Community Choice in Real Estate Act would ensure that banks would not be allowed to engage in the selling or direct purchasing of property. H.R. 1357 - Homeowners Emergency Assistance Act would restore home mortgage assistance through the FHA single-family mortgage insurance program. H.R. 1443 - Access to affordable Mortgages Act would change language in laws that allow for ARMs, so they state that ARMs are capped at 1% for terms of 3 years and under, as opposed to the current 5 years and under. S. 1928 - Predatory Lending Consumer Protection is a federal anti-predatory lending bill containing case-bycase review of a borrower's ability to repay the loan and no assignment of liability. H.R. 2575 Secondary Mortgage Market Enterprises Regulatory Improvement Act would amend the Homeowners' Loan Act to rename the Office of Thrift Supervision as the Office of Housing Finance Supervision, giving this office direct authority over Fannie Mae and Freddie Mac to ensure they are financially safe and adequately capitalized. H.R. 2803 - Housing Finance Regulatory Restructuring Act would establish the Office of Housing Finance Oversight in the Department of the Treasury to ensure the financial safety and soundness of Fannie Mae, Freddie Mac, and the Federal home loan banks. H.R. 284/ S. 595 - Housing Bond Fairness Act would rescind the sunset date on Mortgage Revenue Bonds, create a new qualifying system, and makes housing credit apartment production viable in rural areas. H.R. 975 - Bankruptcy Abuse Prevention and Consumer Protection Act would reform bankruptcy laws to force people with the ability to repay their debts to file under Chapter 13, where courts establish repayment plans, instead of Chapter 7, which erases debts. Federal Reserves' decision to implement the Basel II Accord, the purpose of which is to reduce risk exposure to global economic cycles and level the playing field for large international banks. This Accord would update the original Basel Capital Accord from 1988, which is outdated in today's economy. The U.S. Department of the Treasury is considering defining REALTORS as "Financial Institutions", in that it relates to the application of the anti-money laundering program of the USA PATRIOT Act. The Creation of a Federal Housing Authority sub-prime loan product for borrowers who would not meet traditional underwriting standards with respect to credit history; but meet the debt, income, and repayment ability standards. The proposed HUD rule to expand its offerings of adjustable rate mortgage products on FHA insured mortgages. The rule would create ARM products, the interest rate for 3-year and 5-year Arms cannot change by more than 1% for the life of the loan. For seven-year and 10-year ARMs, the Maximums are 2% annually and 6% for the life of the loan. Fannie Mae's and Freddie Mac's rule change that would boost interest rates or fees on cash-out refinancing that involve loans of more than 70% of a home's value, which could stop homeowners from tapping their equity. HUD's proposed rule on the Real Estate Settlement Procedures Act and its application.

H.R. 111/S. 98, Community Choice in Real Estate Act.

Client expense: Not reported · Firm income: $40,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE