[David] Alice, let’s get over to you on a Legislative Update. What do you have for us this fine day?
[Alice] Hello everybody. Let’s see. Last week we talked a little bit that we should maybe dedicate a little bit of time to just talk about the nominees again. Just wanted to run through those, see if anybody has new thoughts on that. We mentioned, I think, just at the end of last week’s program, that Scott Besant was confirmed as the Treasury Secretary. That one we’re good with.
[Kittle] Yes, Scott was approved. But over the weekend, when Chopra was fired by the CFPB, Besant is now interim director at the CFPB.
[Alice] He was there to be able to jump in.
[Kittle] That is an interesting because, they want to get rid of the CFPB and one of the ways to do it is to dumb it down or let somebody else control it and then get rid of it. So, that is an interesting pick right there. And there’s a lawsuit too, previous back years, whether or not you can appoint somebody to the CFPB and have them run out like that, because it says box that the second in command is supposed to step up and run. So there is a continuing lawsuit. I think with the 1st Trump administration on this issue as well. Sorry.
[David] Yeah good comment.
[Alice] There is. I’ll bring that back next week, Dave, when both of you have your voices back, I hope. But I think one comment I just wanted to add. We’ve got Bill Pulte coming in as a potential for FHFA. He’s run a massive organization, right? There’s over six, maybe seven, there’s up to maybe 7,000 people in the overall Pulte group. I think when you Look at Turner running HUD, which is over 9,000 people and it’s tens of billions. I’m trying to find experience. So I get people have relative interests and knowledge in those areas. Doug Collins, he’s been an attorney. So to have him in charge of VA, he’s been a veteran. He’s been in the AirForce. But I think what happens for all nominations as they come in is that they don’t have that how to run a large government entity like this, and that’ll be the area that we have to be careful of because it’s not the same and if you’ve been a congressman, your staff is like 15, 20 people, maybe, you aren’t used to running a massive staff with lots of different objectives. But I think that’s probably the case every single president who comes in and has to nominate people that it’s tough to find someone who actually has working experience. As far as my thoughts on the folks, I think they have good relative backgrounds. It’s just whether or not they can step up to the plate and manage such big organizations. The last thing was let’s see. I had one other thing. Oh just the repeal one of the executive orders that president Trump, two of them. I think that came out will looks like they will repeal this federal flood risk management standards that went into effect last year for just new construction properties. So, it’s not sweeping across a lot of homes. It’s not this big change. Because it was only for new construction and so I think, and it was about changing the elevation of the house. So, for our single family businesses out there. So we have to wait until we get a formal repeal from HUD because right now those are set in as final rules within the minimum property standards for new construction. So, those of you who are out there who are looking at new construction applications and going, yippee, I don’t have to worry about this. Not quite yet. It’s anything else. The order comes out and then we’ve got to watch the next steps to see if there are going to be any challenges or if it will be able to be repealed right away. So, I would hate to have you have uninsurable loans. So please wait to hear from HUD on that.
[David] Very good point. Yeah, good stuff. Alice, thank you so much.
[Alice] You’re welcome.
[David] We usually say I say thank you to Bill Cosgrove and the team for letting you come on the podcast. Now we just say hi to Andy and thank him, your husband, for letting you come on the podcast. It’s so good. I appreciate it.
Alice Alvey, Master CMB
She handles development of their World Class Training program designed to support UHM partners and organizational effectiveness.
Prior to UHM, Alice served as Senior Vice President at Indecomm leading the Indecomm-Mortgage U division, Internal QA and Compliance and SaaS technologies. Indecomm acquired Mortgage U in 2013, where Alice was President/Co-founder, providing training and consulting since 1996. Prior to MU she served as SVP of Operations at a national bank overseeing operations for wholesale, retail and correspondent from underwriting through servicing, and compliance.
She has been in the trenches of mortgage lending operations from application through servicing for over 30 years. Her authoring work in training content, policies and procedures and the FHA/VA Practical guides illustrates her ability to bridge regulatory requirements with day-to-day operations.
Alice has been a weekly contributor to the Lykken on Lending show since its beginning in April 2009 and has made her weekly contributions to 450+ episodes!