PHILADELPHIA--(BUSINESS WIRE)--Yesterday, the Association of Independent Mortgage Experts (AIME) celebrated the launch of the Broker Action Coalition Political Action Committee (BACPAC), a PAC that will serve to amplify the voices America’s independent brokers on an unprecedented scale.
As the only trade association that solely advocates for independent mortgage brokers, AIME is dedicated to ensuring the nation’s wholesale mortgage professionals are given the political representation they need. With over 65,000 members across all 50 states, the District of Columbia, and Puerto Rico, now is the most crucial time for the wholesale channels’ voice to be heard at the highest levels of government. The BACPAC represents a massive step towards securing and strengthening the industry’s presence on Capitol Hill.
The BACPAC’s legislative objectives will make it possible for wholesale mortgage experts to have much a needed, and historically overlooked, role in mortgage legislation. This PAC is a bipartisan initiative that uses voluntary contributions to help amplify, defend, and promote the interests of the wholesale broker channel to support a variety of initiatives, including updating federal regulations, addressing Veteran and minority homeownership challenges and equalizing channel discrepancies. The BACPAC represents a unified front for the broker community, one which has been worked towards since the earliest days of the association, and change for the betterment of the brokerage profession. With the launch of the BACPAC, AIME will continue to secure brokers a seat at the big table and will foster increased visibility for the issues that most affect the broker channel.
“Today is a great day to be a mortgage broker, but it’s also a great day to be a homebuyer. Our victory with HB 809 in Maryland is one that directly benefits both veterans and their communities,” says Katie Sweeney, CEO of AIME. “Today’s PAC launch means a lot more wins are on the horizon and the overwhelming success of yesterday’s BACPAC launch proves that we have a collective voice that’s hungry for change.”
This PAC is a boon for homebuyers as well. For example, the PAC’s grassroots arm, the Broker Action Coalition (BAC), has already taken action to promote amendments to the Florida Hometown Heroes Housing Program. These amendments would allow crucial workers in over 50 different frontline professions access to local mortgage brokers when using Hometown Heroes funds to purchase a home. Brokers possess a nuanced understanding of the communities in which they operate, enabling them to serve homebuyers in a way that uniquely reflects their needs. Access to independent mortgage brokers is a freedom that must be granted to the nation’s homebuyers, and this PAC will help to ensure that reality.
“Our industry is growing,” says AIME’s President of Advocacy, Brendan McKay. “We need to make sure our influence grows along with it. Brokers are people who are willing to go to bat for their beliefs and for their customers. This PAC gives them a chance to do so politically, in a way that will have a real effect on their lives. The broker channel has finally gotten a chance to speak, and we’re going to speak loudly.”
“We are protecting the future of brokers – today, tomorrow, and for twenty years from now,” adds Sweeney. “We are advocating for the wholesale mortgage originator every single step of the way, and there’s no better time to join the fight than right now.”
About Association of Independent Mortgage Experts
The Association of Independent Mortgage Experts (AIME) is a non-profit, national trade membership association created exclusively for independent mortgage brokers. With over 65,000 members, AIME is committed to establishing a community of independent mortgage experts by creating an association that empowers them with unparalleled technology, continued education, and networking support necessary to successfully advise consumers nationwide with their residential mortgage needs. AIME operates with a growth-focused strategy, providing tools and resources to propel the wholesale channel beyond a 25% share of the mortgage market in 2022 and beyond.