In the Spring of 2010, IBAT mounted a campaign to exempt or temper the Higher-Priced Mortgage Loan (HPML) escrow requirement on community banks. While we were able to obtain some relief short-term balloon notes, our initial efforts, including a face-to-face meeting with Federal Reserve Governor Elizabeth Duke, were met with limited success. But as far as we were concerned, this battle wasn’t over; it was just beginning. This week, we continued our efforts on behalf of community banks with a letter to Governor Duke asking that the Federal Reserve amend the HPML escrow rules on in-portfolio loans in certain circumstances. Because community banks and in-portfolio mortgage loans did not contribute to America’s financial meltdown, IBAT is convinced that a limited exemption is the right thing to do. And we will keep fighting on your behalf.