Magazine article American Banker

Home Equity Conferees Are Urged to Get More Involved in Politics

Magazine article American Banker

Home Equity Conferees Are Urged to Get More Involved in Politics

Article excerpt

Home equity lenders, expecting a banner year in 1996, closed out their biggest conference ever with a theme dinner.

The "Out of This World" evening featured silver-robed dancers, a conga line, and a 25-foot flying saucer that flew above the heads of the 700 attendees.

Despite the emphasis on fun, the lenders appeared to come away with determined to get more politically involved. The National Home Equity Mortgage Association's new commitment to lobbying was stressed by speakers throughout the evening, and attendees responded with both enthusiasm and money.

During his acceptance speech, Stanley Zimmerman, incoming president, encouraged attendees to become involved with local grass-roots organizations, get to know their congressional representatives, and volunteer as expert witnesses for association committees.

The group will be forming public relations and legal relations committees this year and will be reestablishing its speakers bureau, Mr. Zimmerman said.

John Hayt, president and chief executive of Equicredit Corp., delivered a similar message in accepting a lifetime membership on the board.

"We need your continued support" for the American Financial Services Association's political action committee, which also lobbies for the home equity group, Mr. Hayt said. "We need to be heard in Washington."

Members of the association showed they had been listening. Donations to the PAC fund raffle, which had been slowly creeping toward its $15,000 goal, poured in after speeches by Mr. Zimmerman and by Mr. …

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