[Adam] Hi, I'm Adam DeSanctis. This is the Mortgage Minute, the latest news from the Mortgage Bankers Association. On Friday, the Department of Housing and Urban Development released its annual report to Congress on the financial status of the Federal Housing Administration's Mutual Mortgage Insurance Fund. The good news, the report announced a strong combined capital ratio of 11. 47%, a slight increase from 2023 and well above the statutory minimum of 2%. The strength of this year's annual assessment of the health of the fund provides an opportunity for HUD to consider further changes to the level and structure of FHA premiums to reduce costs. Two borrowers while maintaining strong reserves above the minimum. In a press statement on Friday, MBA president and CEO, Bob Brooksmit said that the mutual mortgage insurance fund is more than five times the statutory minimum reserve ratio. While it is sensible to have a healthy cushion above 2%, qualified borrowers should not be charged higher mortgage insurance premiums than necessary. He added that in addition to pursuing more program enhancements to boost housing supply and affordability, such as this year's 203k program Borrowers would see meaningful payment relief from FHA eliminating its life of loan premium requirement and making another reasonable cut to the MIP. Looking ahead, we will work with HUD and the incoming Trump administration as they evaluate any potential changes to FHA pricing and we will continue to advocate for other program updates that boost supply and improve affordability.
Adam DeSanctis, Director of Public Affairs 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.
