About OMBAConceived
in 1954 by a group of mortgage bankers who foresaw the value of
building a strong network of real estate finance professionals, the
Oregon Mortgage Bankers Association has grown into an organization which
is the resource point for the real estate lending industry in Oregon. Welcome to our 2019 New Members
2019 Legislative Update We are now in the last weeks of the 2019 Legislative Session with nearly all of the policy committees having shut down. While only a month or so remains before the final gavel falls, there are still many bills to be voted upon, and agency budgets to be finalized. The May revenue forecast showed much stronger than expected returns. Corporate and personal income taxes were up 50% compared to what was collected last year which in real dollars is about $500M above what a typical year would bring. As a result, the state will enjoy an additional $737M in available resources which can be rolled into the 19’-21’ biennium. Further, we will end the current biennium with somewhere in the neighborhood of $3.5B in reserves and the kicker is expected to be the largest ever at around $1.4B. Coming into the session, there were a handful of priorities outlined by Democratic leadership. Among the most notable include: a Cap and Trade Program, Rent Control, as well as passing some sort of revenue package. Thus far, two of those three have passed, with only Cap and Trade outstanding. It is unclear at this point whether or not there is enough traction for Cap and Trade to pass, but it is likely to be part of the conversation until the last hours of session. Below is a link to some bills of note: MAY OMBA REPORT | Upcoming Events
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