[Adam] Hi, I'm Adam DeSanctis. This is DeMortgage Minute, the latest news from the Mortgage Bankers Association. Last week, FHFA and Fannie Mae and Freddie Mac responded to MBA's raised concerns by announcing that they will delay the implementation date for their new Reconsideration of Value, or ROV, policy. This move is in direct response to a letter we sent to FHFA and HUD asking for a delay in implementing their expanded ROV policies. which are each announced in May of 2024. Originally scheduled for August 29th and September 2nd, respectively of this year, the new implementation date is now October 31st, providing lenders an additional 60 days. We recognize the value of ROV policies as a helpful tool in ensuring fairness, transparency, and accuracy in property valuations. This extension will allow lenders and their vendors to ensure that all necessary measures are in place to comply with the new standards. Enabling the industry to better support the objectives of HUD and FHFA. That's it for this week. Thank you for listening.
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.
