Advocacy Update Archive

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  • 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.

  • MBA Advocacy Update

    MBA and 27 other organizations sent a letter to FHFA Acting Director Joseph Otting on priorities for preserving access and affordability when undertaking administrative reforms to the GSEs. And Federal Reserve Chairman Jerome Powell addressed both the House and Senate, answering questions on both GS

  • MBA Advocacy Update

    Congressional leaders finalized a spending bill compromise Thursday that included a revised funding mix for border security--and nine Cabinet departments and dozens of other agencies, including HUD, through September 30. President Trump signed the legislation, which removes the immediate threat of a

  • MBA Advocacy Update

    Last week, MBA President and CEO Bob Broeksmit, CMB, participated in a CEO-level panel discussion on housing finance reform. And Comptroller of the Currency and Acting Federal Housing Finance Agency Director Joseph Otting said at a separate event that the Trump administration would prefer to end gov

  • MBA Advocacy Update

    In an attempt to keep the government open, a group of 17 lawmakers met on Wednesday to hash out a legislative solution on issues relating to homeland security. This bipartisan conference committee has until February 15 to find such a proposal that could clear both chambers of Congress and get Presid

  • MBA Advocacy Update

    The partial government shutdown shows no sign of ending soon, though negotiations between the Trump administration and congressional Democrats to reopen portions of the federal government are ongoing.

  • MBA Advocacy Update

    The partial government shutdown continued into a third week, as President Trump and newly installed leaders in Congress failed to reach agreement on spending--once again largely over the issue of "border wall" funding.

  • MBA Advocacy Update

    On Friday, MBA President and CEO Robert D. Broeksmit, CMB, testified before the House Financial Services Committee on the need for GSE reform.

  • MBA Advocacy Update

    President Donald Trump announced his intent to nominate Mark Calabria as the next Director of the Federal Housing Finance Agency. MBA President and CEO Bob Broeksmit, CMB, issued a statement congratulating Calabria on his nomination.

  • MBA Advocacy Update

    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.

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