Legislative Successes

A critical part of membership in IMBA surrounds the legislative activities of the organization and its success in working effectively with the State legislature and government to ensure lenders’ ability to conduct business with minimal government intrusion. Member dues and PAC support provide the resources for this and is greatly appreciated!

 

Maintenance of Foreclosure Property

This legislation was introduced and would have required that lenders be responsible for the maintenance of properties in foreclosure.

IMBA successfully got legislators to drop this requirement in return for giving local governmental units the right to schedule a sheriff’s sale if a lender has not asked for a sale within 180 days after entry of judgment!

 

Empowerments of Not-for Profits to Pursue Negligence Claims

This legislation would have given not-for-profit community associations the right to pursue nuisance claims against lenders for vacant and abandoned homes.

IMBA successfully lobbied to have this legislation defeated!

Mechanics Liens

Legislation was introduced that would have given all mechanics liens priority over mortgages.
IMBA successfully lobbied against this legislation and it was not enacted!
Inclusion of PMI Companies in Foreclosure Conferences – Legislation was introduced that would have mandated PMI companies attend foreclosure conferences.

IMBA successfully lobbied against this legislation!

 
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