Reverse Mortgage Jan-Feb 2021

“Some of the policy issues before Ginnie Mae might slow up a bit, particularly if a political appointee wants to weigh in,” Horne says. The lobbyists routinely work with the various agen- cies, and over the years the relationships have been strong. But Olson notes that members of Congress are expected to be experts on issues ranging from banking to foreign affairs to taxation, which is why it is important to develop strong relationships with committee staff members and government employees. “And HECMs can be a complicated issue, so most of what we do you don’t see, because it is talking to people and educating them about the program and anticipating things that might be raised about it,” Olson says. That legwork begins early in the year—February, March and April—or it otherwise can be too late if issues arise later in the year. “It’s an ongoing process,” Olson says. Horne agrees, adding that one article in the local or national press that reflects poorly on the industry might ignite tensions, so it is important to have the relationships in place, so the stakeholders know that the information from the industry is trustworthy. “If the first time they see you is during a crisis, that reduces chances to win them over,” Horne says. “So, you need to do that groundwork.” With the pandemic, the ability to build that trust inmeet- ings that are not face-to-face will be difficult, he adds. But HUD has been good about granting access to career workers, which has helped. The hope is that access will continue. One agency to watch closely will be the CFPB, which was formed under the Obama administration and took a tough stance on lenders. The Trump administration has not been as tough. But the new head of the CFPB might go back to those more activist roots. Senate confirmation might be difficult for such a person if Republicans keep the majority, Olson says, but not impossible. “If you are concerned about the CFPB, that is some- thing to keep an eye on,” he says. “I would suggest that probably, roughly, 80 or 85 percent of our advocacy issues and the management of the program goes forward as if there has been no election.” — David Horne, NRMLA lobbyist NowWhat continued from page 20 22 REVERSE MORTGAGE / JANUARY-FEBRUARY 2021