Wednesday, August 17, 2022

Media Contact: Scott Olson
703-475-7365
ScottOlson@communitylender.org

CHLA and CMLA Announce a Merger

The Two Major Trade Associations Representing IMBs Join Forces

The Community Home Lenders Association (CHLA) and the Community Mortgage Lenders of America (CMLA) announced they are merging.  The combined organization will be renamed the Community Home Lenders of America (CHLA). The Executive Director will be Scott Olson, with Rob Zimmer and David Horne continuing their government relations work.

“This merger reaffirms and strengthens CHLA as the premier advocate for small and mid-sized IMBs in Washington, DC,” said CHLA Executive Director Scott Olson. “More members mean more resources and a larger megaphone to carry on the fight to maintain IMBs’ market leadership in mortgage lending and servicing, particularly for minority and underserved borrowers.”

“Combining CMLA and CHLA gives our community lender members the clout to compete with the large mega-lenders that can afford to hire their own lobbyists in Washington, DC,” said Michael Jones of Thrive Mortgage and former CMLA Chair. “We intend to use that clout to continue to fight for fairness for community mortgage lenders and the consumers they serve.”

“This is a significant announcement which will greatly affect the advocacy efforts of IMBs and community lenders,” said Taylor Stork, CMB, of Developer’s Mortgage and President of CHLA.  The mortgage landscape is undergoing considerable change, and the merging of these organizations will broaden the reach and impact of their members in Washington, D.C.”

CHLA and CMLA have both been leaders on a number of critical policy victories for smaller IMBs in recent years, including: permanent G-Fee parity for Fannie Mae and Freddie Mac pricing in 2021; suspension of harmful GSE cash window and loan product PSPA restrictions in 2021; transitional licensing legislation in 2018; and the Federal Housing Administration premium cut in 2015.

CHLA is a 10-year old national non-profit association of small and mid-sized community-based IMB mortgage lender/servicers. CMLA is a 13-year old Washington, DC based association, similarly dedicated solely to strong, effective representation of smaller mortgage lenders in Washington.