Savitt Congressional run: Mortgage pros react

by Ryan Smith09 Jan 2014
Yesterday National Association of Independent Housing Professionals President Marc Savitt announced that he was running for Congress. Savitt, long an advocate for mortgage brokers, will be running for the seat currently occupied by retiring 17-term Congressman Frank Wolf (R-Va.).

Savitt has been one of the leading voices for the industry for the last 15 years, having served as president of both the National Association of Mortgage Brokers and the NAIHP. He’s been invited to testify before Congress numerous times and has met frequently with regulatory agencies to represent the interests of the mortgage industry – and MPA readers seem to feel he’d do a good job representing their interests in Congress.

“I hope he is successful. He has certainly shown commitment to the consumer,” wrote MPA reader Griff. “Maybe we could replace all of Washington with real people.”

Reader Don Merlo agreed.

“I've Known Marc for almost 20 years,” he wrote. “I've not met a more principled man. He fights for what he believes in and is relentless in his pursuit of fairness. I can't think of a better man...or fill that seat. Good luck Marc!”

Marcus, however, thought a mortgage professional might have to narrow a constituency.

“Good luck, but broker compensation/mortgage reform is not going to be a hot button issue in the 2014 election,” he wrote.

Another reader, posting as “Please think…,” pointed out that Savitt said he’d focus on more than just the mortgage industry:

“Marcus, Mark (sic) stated he feels the most important issue is jobs, and he is right. Teach a man to fish instead of arguing about more 'benefits'.”

Nevertheless, Joe in MN thought Savitt would bring much-needed perspective on the business to the halls of Congress.

“Awesome... This would be the one and ONLY person on the hill who has a clue about the mortgage industry!” he wrote.

And reader Kathi Y felt Savitt’s years of advocacy for the industry would translate to valuable service to his constituents.

“What an excellent candidate the voters of Virginia will have on the ballot,” she wrote. “As an advocate for small business and the Nation's economy in general, our country would do well to have you serve us. Best wishes!”

What do you think? Is Savitt’s candidacy a boon to the mortgage industry? Will he face an uphill fight in the election? Give us your thoughts in the comments section below.


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