Advocacy Update Archive

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  • MBA Advocacy Update

    The highly anticipated 2018 midterm elections took place last week, and Democrats gained control of the House of Representatives, while Republicans increased their majority in the Senate.

  • MBA Advocacy Update

    The House and Senate remain in recess until Nov. 13. This Tuesday, voters will head to the polls to participate in the highly anticipated 2018 midterm elections where they will elect a new Congress.

  • MBA Advocacy Update

    MBA submitted an Oct. 22 letter to the Bureau of Consumer Financial Protection, signed by nearly 250 MBA member companies, urging it to revise the Loan Originator Compensation rule.

  • MBA Advocacy Update

    Last week, the Federal Housing Finance Agency, Fannie Mae and Freddie Mac announced a new Mortgage Translations clearinghouse developed to assist mortgage professionals who serve borrowers with limited English proficiency.

  • MBA Advocacy Update

    Both the House and Senate have now adjourned until after the midterm elections, with senators having achieved a bipartisan agreement to confirm 15 judicial nominations before leaving town last week. Both chambers will reconvene for a "lame duck," post-election session on Tuesday, November 13.

  • MBA Advocacy Update

    On Oct. 1, MBA submitted a comment letter providing input and feedback to the Treasury and IRS in response to proposed regulations issued in August implementing the new pass-through deduction provision contained within the Tax Cuts and Job Act.

  • MBA Advocacy Update

    This past Wednesday, the House passed H.R. 6737, the Protect Affordable Mortgages for Veterans Act, which addresses an unintended consequence from the enactment of Section 309 of S. 2155 (now PL 115-174) that caused certain VA-guaranteed loans to be ineligible for pooling as Ginnie Mae securities.

  • MBA Advocacy Update

    Scheduling on Capitol Hill continues to be abbreviated due to the Jewish holidays. House and Senate negotiations on appropriations bills and funding the government continue, with the end of the fiscal year on September 30 looming.

  • MBA Advocacy Update

    MBA last week led a broad coalition of 29 groups in a letter calling on the Trump administration and Congress to complete the job of reforming the GSEs. The letter coincided with the 10-year anniversary of the GSEs being placed into conservatorship.

  • MBA Advocacy Update

    Last week, Sens. Mark Warner, D-Va., and Mike Rounds, R-S.D. introduced the Self-Employed Mortgage Access Act, which addresses challenges presented in documenting the ability to repay for borrowers with non-traditional forms of income.

  • MBA Advocacy Update

    The Senate Banking Committee approved six nominations last week, including Kathy Kraninger to serve as Consumer Financial Protection Bureau Director and Michael Bright to serve as Ginnie Mae President.

  • MBA Advocacy Update

    The House is in recess through Labor Day, while the Senate will be back in session on August 15, when judicial nominations and spending bills will be on the agenda.

  • MBA Advocacy Update

    Last week, the Senate passed and the President signed a four-month extension of the National Flood Insurance Program, hours before a July 31 expiration. The Senate also passed a package of appropriations bills impacting funding for HUD and the FHA.

  • MBA Advocacy Update

    The House last week passed a four-month extension to the National Flood Insurance Program. Also last week, the Senate Banking Committee held a hearing on nominations of Michael Bright to be President of Ginnie Mae and Rae Oliver to be Inspector General of HUD.

  • MBA Advocacy Update

    On Thursday, the Senate Banking Committee held a sometimes contentious hearing on the nomination of the Office of Management & Budget's Kathy Kraninger to be permanent Director of the Bureau of Consumer Financial Protection (Consumer Financial Protection Bureau).

  • MBA Advocacy Update

    Last week, MBA joined representatives of several member companies to meet with Bureau of Consumer Financial Protection leadership to discuss the Home Mortgage Disclosure Act.

  • MBA Advocacy Update

    Congress was in recess last week, but returns this week, with the Senate likely to begin its collective reaction to President Trump's next Supreme Court nominee.

  • MBA Advocacy Update

    This past week, HUD Secretary Ben Carson testified before the House Financial Services Committee regarding oversight of the agency. In the Senate, a six-month extension of the National Flood Insurance Program was included in the recently-passed version of a bipartisan farm bill.

  • MBA Advocacy Update

    Last week, the White House released a proposal to reform the government-sponsored enterprises that mirrors many of the principles in MBA's secondary market reform plan. And the President announced nominated Kathy Kraninger, a White House budget official, as the next director of the Consumer Financia

  • MBA Advocacy Update

    Comptroller of the Currency Joseph Otting testified before the House Financial Services and Senate Banking Committees, respectively, in his first congressional testimony since taking office. And the Federal Housing Finance Agency proposed new capital requirements for Fannie Mae and Freddie Mac.

  • MBA Advocacy Update

    On Tuesday, Senate Majority Leader Mitch McConnell, R-Ky., announced he is canceling the annual August recess to deal with the Senate's legislative backlog. And finally, the Senate Appropriations Committee approved the FY 2019 Transportation, Housing and Urban Development Appropriations bill.

  • MBA Advocacy Update

    Congress was in recess last week. This week, the House Financial Services Committee will hold a hearing on improving transparency and accountability at the Bureau of Consumer Financial Protection.

  • MBA Advocacy Update

    The House passed, and President Trump signed into public law, S. 2155, the community lender regulatory relief package containing a number of MBA-supported provisions.

  • MBA Advocacy Update

    A consensus seems to be forming about how to reach a bipartisan agreement on terms of Senate floor debate for a vote on confirmation of FHA Commissioner nominee Brian Montgomery.

  • MBA Advocacy Update

    House Speaker Paul Ryan, R-Wis., said last week the House will take up S. 2155, the community lender regulatory relief package that passed the Senate by a filibuster-proof 67 votes in March, as currently written and free from amendment.

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