Advocacy and Policy

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.

Explore our active issues by market focus or make a difference today by being an industry advocate. 

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Spotlight on What is New and Important Right Now

  1. The Mortgage Action Alliance (MAA) is celebrating nearly 70,000 advocates nationwide - and growing! Join us.

  2. Senator Bob Menendez (D-NJ) introduced S. 4260, the Promoting Access to Credit for Homebuyers Act of 2020, to mitigate the economic impact of COVID-19 on the housing market and protect borrowers from additional pricing constraints on their mortgage loans. The legislation is the Senate companion to H.R. 6794, introduced by Rep. Juan Vargas (D-CA) and co-sponsored by House Financial Services Committee Chair Maxine Waters (D-CA). MBA supports these bills as they would not only promote continued access to credit for homebuyers, but also ensure the continued smooth functioning of the secondary mortgage market. MAA has issued a call to action asking members to contact their Representative and Senators to urge them to co-sponsor these bills to support homeowners adversely impacted by this current crisis.

  3. The Federal Housing Administration announced a series of measures to provide pandemic-related relief to lenders and servicers. In a temporary waiver, FHA suspended the requirement that lenders review all Early Payment Defaults, recognizing that many such loans have exhibited missed payments due to COVID-19-related hardships. In another temporary partial waiver, FHA allowed lenders to use third-party tools as an alternative to field reviews of appraisals for loans in post-closing quality control samples. Finally, FHA clarified that it will consider the impact of COVID-19 and widespread borrower forbearance when evaluating lenders' Compare Ratios in the Neighborhood Watch System. Together, these steps represent a positive development that should provide lenders with appropriate relief while also significantly reducing compliance costs.

  4. Last week, the U.S. Department of Housing and Urban Development (HUD) issued a Housing Notice (HN) and Mortgagee Letter (ML) revising its three-year policy under Section 223(f) of the National Housing Act. Under the revised policy, HUD will accept applications for refinancing of either newly built or substantially rehabilitated properties as soon as the property has achieved the applicable debt service coverage ratio (DSCR) for at least one month (along with certain underwriting guidelines). MBA advocated for these changes and applauds the revisions to the policy, as it eliminates barriers to achieving both the public and private sectors' goals of financing the production of affordable rental housing in communities across America

Ways to Get Involved and Make a Difference