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National Association of Independent Land Title Agents
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  • HOME
  • ABOUT US
    • About Us
    • Our Platform
    • Board Members
    • Advertise With Us!
    • Links
    • NAILTA PAC
  • JOIN
  • NEWS
    • Industry News
      • Announcements
      • CFPB
      • Direct from the Board
      • Legislative News
    • Consumer Corner
  • BLOG
  • GET THE FACTS
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    • Education
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  • CONTACT US

NAILTA Supports Another Extension of the MDRA Until 2015

USSenateNAILTA supports another extension of the Mortgage Forgiveness Debt Relief Act (MFDRA) through 2015.  Why is this important? Several reasons: The debt relief law spares homeowners who receive principal reductions on their mortgages from being hit with hefty federal income taxes on the amounts forgiven.


Without it, millions of homeowners who go through foreclosure or leave their homes following short sales would experience even more financial stress. The law, which is set to expire December 31, 2013, has also provided relief to thousands of people who have debt balances written off as part of loan-modification agreements and is crucial to the $25-billion federal-state robo-signing settlement with large banks.

NAILTA recently issued a revised white paper in support of extensions to the MDRA. Many of our members and represented industry colleagues have handled the ever-growing number of short sale transactions that have helped homeowners avoid foreclosure and maintain the continuity of land transfers. Without the MDRA, the short sale market will collapse and foreclosures will increase putting an already strained real estate market on the way backward.

Independent title agents are still the consumers’ best friend and most trusted professional at a real estate closing. An extension of the MDRA would help millions of distressed homeowners find an alternative to bankruptcy and foreclosure. Extending MDRA will also help small business owners in the title insurance market remain competitive within the title community.

If you are in contact with your local Congressional representative, tell them you support NAILTA and would like them to vote in favor of extending the MDRA.

For more information on how you can become involved with NAILTA’s policy efforts, please contact us.

Example MDRA Letter to HFSC Member

Example MDRA Letter to Senate

Email list to HFSC Members

Email list to Senate Members

Category: Announcements, Industry News, MFDRADecember 18, 2013

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News Categories
  • Blog(17)
  • Consumer Corner(17)
  • Industry News(103)
DIRECT FROM THE BOARD
  • NAILTA Asks Kentucky Legislature to Protect Small Business Owners in Proposed E-Notary Legislation
    August 31, 2018
  • House Passes Mortgage Choice Act (Again); Proponents Cite “One-Stop Shopping” Myth as Reason
    February 15, 2018
  • NAILTA Mourns the Loss of Former President, Anthony L. Affatati, Sr.
    February 15, 2018
NAILTA BLOG
  • First American Data Leak: What Happened? What Next?
    May 28, 2019
  • NAILTA Asks Kentucky Legislature to Protect Small Business Owners in Proposed E-Notary Legislation
    August 31, 2018
  • House Passes Mortgage Choice Act (Again); Proponents Cite “One-Stop Shopping” Myth as Reason
    February 15, 2018
ANNOUNCEMENTS
  • House Passes Mortgage Choice Act (Again); Proponents Cite “One-Stop Shopping” Myth as Reason
    February 15, 2018
  • House Passes TRID Improvement Act; Aims to Improve Disclosure of Title Insurance Premiums to Consumers
    February 15, 2018
  • NAILTA Mourns the Loss of Former President, Anthony L. Affatati, Sr.
    February 15, 2018
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