VA Property Tax Exemption

Give Disabled Veterans the Homebuying Power They've Earned

Current Law Continues to Hurt Disabled Vets

Currently, Disabled Veterans cannot apply for their exemption until after they own the home. Because they are not exempt during the underwriting process, taxes have to be counted against them when qualifying for their Mortgage. Thousands of dollars are collected at closing to pay tax bills that will simply be refunded back to the Veteran at a later date.

Disabled Veteran, Active Duty, and Surviving Spouse

Allowing Qualifying Permanent & Total Disabled Veterans to apply for real estate tax exemption prior to taking ownership of a home increases homeownership among disabled Veterans and increases their buying power by tens, if not hundreds, of thousands of dollars.

100% P&T Disabled Veteran closes on a mortgage

Real estate taxes are collected at closing

Veteran pays into tax escrow account until Tax Exempt status approved

Veteran receives reimbursement for taxes paid at closing

Exemption shown to mortgage servicer & account is updated

Money in escrow account is refunded & mortgage payment reduced

How Things Work Today

How the BAC Fixed the Problem - at No Cost

Maryland's HB809 was a unanimously passed bill with 18 bipartisan cosponsors. It allows Veterans to apply for their exemption after going under contract on a home, but before taking ownership.

That’s it. That solved the entire problem.

Questions?

Katie Sweeney

CEO of AIME

Katie Sweeney is the CEO of the Association of Independent Mortgage Experts. Katie oversees the day-to-day operations of the AIME team by spearheading partnership development, membership growth initiatives, and business analytics. Previously, Katie served as the Senior Vice President at ARIVE where she successfully brought to market a revolutionary portal that provided an all-encompassing technology solution for wholesale brokers. After joining AIME as the Executive Vice President of Strategy, she spearheaded partnerships with top wholesale mortgage lenders and industry vendors to provide real-time support and exclusive access to mortgage brokers with the launch of the Brokers Are Better Network. Katie has strengthened the capabilities of AIME’s Brokers Are Better Network to deliver top-tier products & services for the benefit of the wholesale community along with bringing on nearly 20 vetted Sponsors. This collaborative effort between AIME and industry-leading vendors has grown to over 30 dedicated industry partnerships providing independent mortgage brokers exclusive access to technology and services that mortgage professionals need to compete in a historically crowded marketplace. She has also overseen the development of a best in class member portal, launched mentorship and job placement services, and ushered in a renewed focus on diversity initiatives through AIME’s Spark and Ignite Programs. Katie’s contributions to the growth and success of the wholesale channel has been noted by HousingWire who presented Katie as one of 2020’s Women of Influence within the mortgage industry and Mortgage Professional America who named Katie to the 2020 Mortgage Global 100 list.

Brendan McKay

President, Advocacy at AIME

Brendan McKay co-founded McKay Mortgage Company, LLC in 2017, a mortgage brokerage that serves the DC Metropolitan area. Since then, Brendan has originated 850+ units and $350M in volume. In 2020, Brendan was named to the Scotsman Guide’s Top Originators as the #34 Mortgage Broker nationally. Involvement in the mortgage broker community is a family affair for McKay Mortgage. Brendan’s mother and business partner, Tina McKay, is a former President of the Maryland Mortgage Brokers Association. Brendan also spent the beginning of his career working in Wholesale Mortgage Operations at American Brokers Conduit and Sierra Pacific Mortgage. He sits on the Board of Governors for the Maryland Mortgage Bankers and Brokers Association (MMBBA) and the Executive Committee and Board of Directors for The Greater Bethesda Chamber of Commerce. Brendan is also a member of VettedVA, an organization that serves active duty and former military homebuyers. Brendan has been a proud and active member of AIME since its inception. Continuing in his advocacy for brokers, Brendan’s role at AIME is pivotal in the future of the community’s growth and will amplify the needs of wholesale mortgage professionals from across the country.

Jamie Cavanaugh

Vice President, Outreach at AIME

Jamie Cavanaugh is the Chief Operating Officer and Partner at Amerifund Home Loans, Inc. Jamie’s ability to combine over 20 years of industry expertise in operations, sales, business efficiencies, and vendor services through the eyes of an originator makes her a sought after advisor in the industry. Over the course of her career, Jamie has broken through the barriers of many glass ceilings to sit on executive leadership teams. Her diversified experience includes sales, compliance, origination, credit risk, post-closing, and secondary marketing management. Jamie enjoys being an active member of AIME, the Women’s Mortgage Network, and Women With Vision and has been a guest on a number of well-known industry podcasts. She is often invited as a Keynote speaker and Panelist at industry conferences where she speaks passionately about marketing, building a sustainable business, effective leadership, and empowering others to find their seat at the table.

CEO & Co-Founder Broker Action Coalition

Brendan McKay

Chief Advocacy Officer & Co-Founder Broker Action Coalition

*Click Below to Read Bio

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Hover on the map or key to see what phase each state is in

Ongoing Legislative Process

Signed into Public Law

Initiated BAC Campaign

VA Tax Exemption Bill Execution Plan

Hover on the map or key to see what phase each state is in

Ongoing Legislative Process

Signed into Public Law

Initiated BAC Campaign

VA Tax Exemption Progression Map

info@brokeractioncoalition.com

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