Hi, I’m Adam DeSanctis with the Mortgage Minute. The latest news from the Mortgage Bankers Association last Wednesday, MBA President and CEO Bob Broeksmit testified before the House Financial Services subcommittee on housing and insurance at a hearing titled homeownership in the role of the secondary mortgage market, Broeksmit detailed how the US secondary mortgage market works boosting liquidity and expanding access to affordable mortgage credit. He highlighted the system’s massive scale. 48 trillion in owner occupied real estate, trillions more in multifamily debt and daily MBS trading, averaging $351 billion. He also emphasized the uniquely American 30 year fixed rate mortgage, which shields borrowers from interest rate volatility. Broeksmit stress that securitization distributes risk to private investors, support stable home ownership and rental markets, and relies on strong market pillars and thoughtful policy. Especially as Congress considers the future of the GSE and broader housing affordability reforms in exchanges with lawmakers, he outlined MBA’s near term housing affordability priorities, reducing LPAs cutting, FHA mortgage insurance premiums, and modernizing credit reporting, and highlighted the importance of the GSE cash window in supporting smaller lenders and broad mortgage liquidity nationwide. MBA will continue working closely with Congress and the Trump administration on all aspects of the secondary mortgage market and affordability reforms. 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.