MBA Advocacy Update

Steve O'Connor soconnor@mba.org; Bill Killmer bkillmer@mba.org

December 10, 2018

    

The passing of President George H.W. Bush Nov. 30 and memorial services prescribed in his honor have been much of the focus in Washington last week. President Donald Trump ordered a national day of mourning on Wednesday with the federal government closed to pay respect.  

In light of this development, congressional leaders unveiled and passed a short-term spending bill that extends the National Flood Insurance Program and federal funding through Dec. 21 to prevent a partial government shutdown.  

MBA President and CEO Bob Broeksmit, CMB, and other industry stakeholders were slated to testify last week before the House Financial Services Committee regarding housing finance reform, but that hearing has been postponed--possibly until December 19. And, notably, on Dec. 6 the full Senate confirmed Kathleen Kraninger to head the Consumer Financial Protection Bureau (Bureau of Consumer Financial Protection) along strict party lines.  

Kraninger will replace Acting Director Mick Mulvaney, who also serves as the current Director of the Office of Management and Budget. The final vote was 50-49, in keeping with the Senate Banking Committee's precedent of previously reporting her nomination along strict party lines. Broeksmit issued a statement following the Kraninger floor vote (https://www.mba.org/2018-press-releases/december/mbas-broeksmit-statement-on-kraninger-confirmation).  

For more information, please contact Erin Barry at (202) 557-2913 ebarry@mba.org.  

Congress Extends Government Funding, Averting Shutdown
On Dec. 6 Congress passed a Continuing Resolution (H.J.Res.143) to fund the government and extend the National Flood Insurance Program through Dec. 21. The Continuing Resolution is a stop-gap measure for seven bills Congress did not pass before the end of fiscal year 2018 on Sept. 30.  

Among the bills that await consideration are the funding bills for HUD and the Treasury Department. The two-week extension of both programs provides time for Congress to negotiate a package that will extend both funding for the government and the NFIP into next year. However, the debate regarding a long-term funding package faces additional challenges as Congress considers President Trump's request for border wall funding.  

For more information, please contact Erin Barry at (202) 557-2913 ebarry@mba.org.  

GSE Reform Hearing Postponed
The House Financial Services Committee was scheduled to hold a hearing this past Thursday on the "Bipartisan Housing Finance Reform Act," introduced by Chairman Jeb Hensarling, R-Texas, and Reps. John Delaney, D-Md., and Jim Himes, D-Conn.  

MBA President and CEO Bob Broeksmit, CMB, was scheduled to testify as part of the first hearing panel, but following the passing of President George H.W. Bush and the related truncation of the congressional work week, the hearing was postponed. A new date for the hearing has yet to be formally determined (December 19 is one possibility). A copy of Broeksmit's written testimony can be found at http://mba-pc.informz.net/mba-pc/data/images/MBA_Broeksmit_Testimony_12.6.2018.pdf.  

For more information, contact Dan Grattan (202) 557-2712 dgrattan@mba.org; or Kelley Williams at (202) 557-2741 kwilliams@mba.org.  

MBA Education Webinar on High Tech vs High Touch in Loan Origination Dec. 11
Join MBA Education on Tuesday, Dec. 11 for an in-depth discussion of how to structure (or restructure) your sales organization as firms prepare for 2019. Given that mortgage origination selling techniques are not working as they once did, and loan productivity is at its lowest level in years, lenders need to be asking: "What is the correct strategy to be successful in this difficult marketplace-is it 100% digital or just back to basics?" "What should managers and their originators have as the right combination of technology and selling practices to win at the point of sale in this "new normal" purchase money environment?" This webinar will discuss best practices and endeavor to help you put it all together. To register, click https://www.mba.org/store/events/webinar/high-tech-vs-high-touch-building-the-right-sales-business.  

For more information, please contact Allison Yaworske at (202) 557-2912 a yaworske@mba.org

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