Advocacy Update Archive

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  • MBA Newslink Tuesday 9-10-19

    "The low interest rate environment, coupled with still strong demand for commercial and multifamily assets, has pushed property values higher and increased demand for mortgages. At the beginning of the year, many economists, investors and others anticipated long-terms rates would currently be in the

  • MBA Advocacy Update

    On Thursday the Trump administration released separate plans developed by both the Treasury Department and HUD, which feature steps to address the future of the secondary mortgage market and include many of the reforms MBA has long advocated. MBA will continue to analyze and evaluate these plans in

  • MBA Advocacy Update

    Many agencies dropped significant rulemakings at the end of July that are keeping MBA staff hard at work on numerous comment letters--the QM Patch; Ginnie Mae stress testing; the HUD Disparate Impact rule; and the revised FHA Annual Certification, to name a few. And we continue to wait on the public

  • MBA Advocacy Update

    On Wednesday, the Federal Housing Administration published Mortgagee Letter 2019-13, which provides temporary guidance clarifying how to satisfy requirements for single-unit approvals in condominium projects not approved by FHA.

  • MBA Advocacy Update

    HUD last week issued a reproposed draft of FHA's annual lender certification in the Federal Register. FHA also finalized its condominium loan guidelines. And the Federal Housing Finance Agency published its final rule on validation and approval of third-party credit score models eligible for use by

  • MBA Advocacy Update

    On Thursday the GSEs announced changes to the Uniform Residential Loan Application that include removing a language preference question. On Monday, the Mortgage Action Alliance launched "Advocacy in August," an initiative designed to keep MBA members informed and engaged with the industry's advocacy

  • MBA Advocacy Update

    The Senate last week passed a $2.7 billion, two-year budget deal to lift sequester caps and increase the debt ceiling before adjourning for the August work period. Republicans on the Senate Banking Committee urged regulators for additional deregulation. HUD sent Congress a proposed rule to update th

  • MBA Advocacy Update

    The Consumer Financial Protection Bureau on Thursday released an advance notice of proposed rulemaking (ANPR) to consider the future of the QM Patch. President Trump signed into law the Protecting Affordable Mortgages for Veterans Act of 2019. And the House passed a two-year, $2.7 trillion budget ca

  • MBA Advocacy Update

    Last week, the House Financial Services Committee completed its two-part markup of appraisal, credit reporting and corporate governance proposals. A bipartisan coalition of coastal senators introduced their version of long-term flood insurance reauthorization legislation.

  • MBA Advocacy Update

    Last week, the House passed MBA-supported legislation clarifying seasoning requirements for refinanced mortgage loans to veterans. The House Committee on Financial Services began its planned two-day markup of roughly 20 proposals pertaining to residential appraisals, credit reporting, and corporate

  • MBA Advocacy Update

    A coalition featuring MBA, the Housing Policy Council, the American Bankers Association and the Bank Policy Institute submitted detailed recommendations to FHA on its proposed revisions to the program's loan-level certifications and Defect Taxonomy.

  • MBA Advocacy Update

    The House last week began consideration on a "minibus" spending bill that provides HUD with $50.1 billion for FY 2020. The Senate Banking Committee held its first in a planned series of hearings on terrorism risk insurance reauthorization. And the New York State Legislature passed legislation that a

  • MBA Advocacy Update

    Ginnie Mae released its "Ginnie Mae 2020" progress report and held a two-day summit with issuers, investors and other stakeholders.

  • MBA Advocacy Update

    President Donald Trump signed a $19.1 billion disaster aid bill last week that included an extension of the National Flood Insurance Program until September 30. Also, the the GSEs began issuance of the new Uniform Mortgage-Backed Security.

  • MBA Advocacy Update

    Congress was out last week in observance of the Memorial Day recess and will return to Washington today. On Thursday, Congress passed an extension of the National Flood Insurance Program for two weeks. Also, FHA extended the comment period for public input regarding loan-level certifications.

  • MBA Advocacy Update

    Last week, House appropriators passed a subcommittee spending bill allocating $50.1 billion for HUD in fiscal year 2020, including a specified $20 million for FHA's single-family information technology infrastructure. Also, the Senate passed a two-week, stand-alone flood insurance program extension

  • MBA Advocacy Update

    FHA proposed new guidelines on Loan-Level and Annual Certifications, as well as a new Defect Taxonomy. The House Committees on Financial Services and Veterans' Affairs both passed the Protect Affordable Mortgages for Veterans Act of 2019, a technical correction to allow a specific cohort of VA "orph

  • MBA Advocacy Update

    The Consumer Financial Protection Bureau released two proposed rulemakings related to the Home Mortgage Disclosure Act. And MBA President and CEO Bob Broeksmit, CMB, took part in a panel discussion on housing finance reform at the Milken Institute Global Conference 2019.

  • MBA Advocacy Update

    This past week, HUD issued a Mortgagee Letter delaying plans to impose new requirements on government entities that offer down payment assistance for mortgages backed by FHA. Also, Congress continued its two-week recess as members remained in their districts for the Passover/Easter/Spring District W

  • MBA Advocacy Update

    Congress continued its two-week recess as members remained in their districts for the Passover/Easter/Spring District Work Period. Consumer Financial Protection Bureau Director Kathy Kraninger gave a speech detailing her approach to the Bureau, while FHA issued guidance clarifying eligibility for do

  • MBA Advocacy Update

    This past week, Treasury Secretary Steven Mnuchin testified before both the House Financial Services Committee and the House Appropriations Subcommittee on Financial Services and General Government regarding a broad slate of economic items and the Treasury Department's FY 2020 budget request, respec

  • MBA Advocacy Update

    MBA's National Advocacy Conference took place in Washington last week, giving attendees a chance to petition their elected officials and hear from a large cast of speakers, including a bipartisan mix of key congressional leaders on financial services and housing issues.

  • MBA Advocacy Update

    On Wednesday, MBA President and CEO Bob Broeksmit testified before the Senate Banking Committee as part of the second in a pair of hearings to discuss Chairman Mike Crapo's secondary mortgage market reform outline. On the same day, the Trump administration issued presidential memoranda directing the

  • MBA Advocacy Update

    Last week, the Trump Administration released its proposed budget blueprint (which holds no force of law) for Fiscal Year 2020.

  • MBA Advocacy Update

    Consumer Financial Protection Bureau Director Kathy Kraninger testified before the House Financial Services Committee last week for a semi-annual review of the Bureau's ongoing efforts.

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