Hi, I’m Adam DeSanctis, this is The Mortgage Minute, the latest news from the Mortgage Bankers Association. Last week, the Full House Veterans Affairs Committee, advanced HR 18115, the VA Home Loan Program Reform Act with bipartisan support. The bill creates permanent authority for the VA to offer partial claims, bringing it into alignment with FHAs and Fannie Mae’s and Freddie Mac’s loss mitigation servicing options. We sent a letter in advance of the markup in support of the adoption of a permanent partial claim option for the VA home loan program. We believe that a VA partial claim program is needed now more than ever to help veterans avoid foreclosure and maintain home ownership stability following the recent wind down of the Veterans Affairs Servicing purchase program. Importantly, the committee adopted a bipartisan amendment to refine the partial claims framework and included improvements that we recommended. We will continue to advocate for a permanent partial claim solution as HR 18115 heads to the hell floor for further consideration as well as the introduction and consideration of a companion Senate bill. And finally, I hope you’re joining us at MBA Secondary and Capital Markets conference taking place in the big apple, New York City, starting on this Sunday. Register today at mba.org/secondary. We hope to see you there.
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Adam DeSanctis, VP, Communication at Mortgage Bankers Association
As a strategic public affairs and communications executive with nearly two decades of experience, Adam has deep expertise in strategy, management, and media relations. He is widely considered to be an expert in a variety of communications, including advocacy, brand, executive, crisis, grassroots, and social media. In his career, he has been the MBA spokesperson on a wide variety of real estate research and advocacy-related issues, promoted MBA research and advocacy efforts to financial, political, and trade industry media and on MBA’s social media channels, and secured media opportunities for MBA leadership on key real estate trends and issues, generated media coverage for MBA’s research and data on mortgage applications, credit availability, homebuilder applications, mortgage forbearance/delinquencies, commercial real estate originations, and forecasts, and other industry analysis, developed key strategic initiatives for MBA’s organizational public affairs plan, media relations and member communications support for mPower, MBA’s Opens Doors Foundation and MBA’s Diversity, Equity, and Inclusion programs.