Hi, I’m Adam DeSanctis. This is the Mortgage Minute, the latest news from the Mortgage Bankers Association. MBA last week submitted comments to FHFA, recommending targeted reforms to Fannie Mae’s and Freddie Mac’s critical repairs policy, while intended to safeguard condo homeowners. After the Surfside condo collapse, FHFA’s response in 2021 to the incident has expanded beyond its original scope, leading to a surge of ineligible buildings that is limiting financing for thousands of prospective condo buyers. The overly broad definition of quote unquote critical repairs is constraining liquidity in the condo market, particularly for first time buyers, MBA’s recommendations would refocus the policy on true safety and structural risks while reducing unnecessary barriers to eligibility for GSE loan purchases. We will continue working with FHFA and the GSEs to advance a more calibrated risk-based approach that preserves safety standards while restoring financing options in this vital housing segment. Now 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.