Jun Luncheon - Paxton, Flemming Speak at June Luncheon

[img src=paxtonaward.jpg align=left]Representative Ken Paxton received the "Legislator of the Year" award at the June DFW AMB Luncheon. Rep Paxton gave an insightful speech regarding how the Second Lien license bill was passed. He highlighted the obstacles and teamed with other legislators to get the bill passed through a contentious House and a cooperative Senate. The result was [b]all[/b] the mortgage brokers in the state now have a second lien license along with their first. This will come into play very prominently when rates on second liens exceed 10% APR. The mortgage brokers having second lien licenses will no longer have to renew them with Office of Consumer Credit. They now come under the Savings and Mortgage Lending department. Rep Paxton explained the budget process and the competition for funds. Education was a big dollar item and their were others. There are over 5,000 bills attempting to get passed each legislative session. The Calendars Committee is an important committee which determines which bills will make it to the floor. He mentioned that the process is so cumbersome, that even many members are somewhat baffled how they sort through the vast number of bills. He was quite pleased with his award and one of the trophy's is in his office in Austin and the other in McKinney. [img src=Flemming.jpg align=left]Paxton's presentation was followed by John Flemming, the chief counsel for the SML, who gave a very informative presentation regarding fraud and what to look for in the future. The June luncheon was very well attended with an interactive dialogue between the speakers and the attendees.