Hi, I’m Adam DeSanctis, this is The Mortgage Minute, the latest news from the Mortgage Bankers Association. Last week, MBA published its Leveraging Rental Payment History to approve more first time home buyers, white paper covering how to maximize the benefits of positive rent payment history through education, workflow changes in collaboration with Fannie Mae and Freddie Mac. As many of a mortgage underwriter’s ability to know a prospective homeowner’s history handling a rent payment can be a strong indicator of a borrower’s ability to sustain a monthly mortgage payment. MBA’s, affordable Homeownership Advisory Council in the white paper are determined that despite the GSCs policy updates, allowing the use of positive rent payment history in underwriting adoption of this flexible option has been limited to increase lender adoption of this positive rent history. The white paper’s recommendations focus on industry practices and improvements to the consumer experience and expanding and enabling broader adoption. Through GSE Collaboration, we plan to launch in an educational series covering the use of rent payment history and how to optimize workflow and expand adoption. Furthermore, MBA is requesting data from the GSEs to help refine marketing, identify applicants who are most likely to benefit from the collection of rent payment history. For more information and to read the white paper, visit the Affordable housing and Resources page at mba.org. Now that’s it for this week. Thank you for listening.
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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.