Hi, I’m Adam DeSanctis with the Mortgage Minute, the latest news from the Mortgage Bankers Association. MBA last week submitted comments to the CFPB in response to its request for information on potential reforms to TILA, RESPA, and the TRID rule. The RFI follows President Trump’s March executive order on expanding access to mortgage credit and asks for feedback on potential changes to disclosures, rescission rights, reverse mortgages, and the impact of regulations on smaller lenders. MBA’s letter outlined its support of the Bureau’s goal of ensuring consumers receive the information they need while encouraging targeted reforms that reduce unnecessary compliance burdens, improve consumer understanding, and expand access to credit. Among other recommendations, MBA called for greater flexibility around trade tolerances and timing requirements, allowing consumers to waive certain waiting periods with informed written consent, eliminating the three-day rescission period for refinances, and streamlining the definition of a mortgage application. MBA will continue engaging with the Bureau and keep members informed of any rulemakings that result from this RFI. That’s it for this week. Thank you for listening.
Adam DeSanctis, VP, Communications 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 regarded as 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.