Advocacy and Policy
In This Section
As the leading voice for our industry, we offer a comprehensive view of policy implications in the real estate finance space. We rely on our diverse membership to provide the practical knowledge that makes a real difference on the issues that matter most to the economy, real estate finance industry and its customers.
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Spotlight on What is New and Important Right Now
- MBA's National Advocacy Conference 2020 is open! Attend April 21-22 in Washington, DC and this year you can bring a colleague for FREE on us!
- Last week, the Trump administration published its annual proposal for the federal budget in the upcoming fiscal year. Notably, the budget requests another $20 million allocation of funding to upgrade FHA's information technology systems - a request that is directly responsive to MBA advocacy and that does not rely upon a prior proposal that sought to impose a fee on FHA lenders. Throughout the budget/appropriations process in the coming months, MBA will work to ensure continued support for vibrant real estate finance markets. Please see this summary of housing-related provisions in the budget.
- On January 31, the Federal Housing Finance Agency (FHFA) issued a proposal to raise the minimum financial eligibility requirements for Fannie Mae and Freddie Mac Seller/Servicers. While initial assessments are that the immediate impact on individual seller/servicers is limited, the proposal would significantly alter the relative economics of Agency and Ginnie servicing in ways that reduce liquidity for Ginnie Mae MSRs. Our key concerns include: a lack of credit in liquidity standards for actual/actual servicing, zero credit for committed MSR advance lines, impact of the 4% delinquency trigger on cost/availability of FHA/VA/RHS credit, increased pro-cyclicality and reduced liquidity for Ginnie MSRs, and a short 6 month compliance onramp. FHFA has established a 60-day comment period on the proposal. We will be working with members on a detailed comment letter to ensure that the final directive sets reasonable standards, establishes proper incentives, provides a longer phase-in, and does not undermine Ginnie MSR liquidity/cost of credit.
- MBA Comments on HUD RFI on Regulatory Barriers to Affordable Housing On January 31st, MBA submitted comments in response to the U.S. Department of Housing and Urban Development's (HUD) Request for Information (RFI) on behalf of the White House Council on Eliminating Regulatory Barriers to Affordable Housing. MBA's letter recommended ways to eliminate regulatory barriers to affordable rental housing and homeownership. MBA recommended addressing Davis-Bacon split-wage decisions and ways HUD could address barriers by reducing costs, updating program requirements, and improving process efficiency.