Mortgage Policy & Leadership Shifts: Key Senate Confirmations and FHA Affordability Updates

Mortgage Policy & Leadership Shifts: Key Senate Confirmations and FHA Affordability Updates

Hi, I’m Adam DeSanctis. This is the Mortgage Minute, the latest news from the Mortgage Bankers Association. Last week, key US Senate committee advancements occurred to advance the nominations of Scott Besant as Treasury Secretary, Doug Collins as VA Secretary, and Scott Turner as HUD Secretary. Following Scott Turner’s passed vote out of the Senate Banking Committee, MBA President and CEO Bob Broeksmit issued a press statement that urged for the full Senate to schedule a vote on his confirmation as soon as possible. Furthermore, Broeksmit used the opportunity to highlight FHA’s healthy financial position and called on the Trump administration to reduce housing costs for low to moderate income Americans by reducing FHA mortgage insurance premiums.  As you know, Besant, Turner, and Collins, if confirmed by the Senate, will play pivotal roles on many of MBA’s key issues, including macroeconomic tax policy, utilizing opportunity zones and other tax incentives for affordable housing, a responsible release of Fannie Mae and Freddie Mac from conservatorship, capital rules, regulations, and directives, and VA home loan program origination and servicing policies. Besant’s confirmation floor vote may have occurred by the time this recording has aired or will come at some point during this week. The timing of Turner’s and Collins floor votes may depend on a range of factors and could be held later this week or even later.  And finally, I’m hoping to see many of you in Austin this week for MBA’s IMB conference. It should be a great time. Please stop me and say hi if you see me running around during what should be a busy and fun week.

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.