Hi, I’m Adam DeSanctis with the Mortgage Minute, the latest news from the Mortgage Bankers Association. Last week brought two significant developments from FHFA and the GSEs that will affect lenders. First, Fannie Mae and Freddie Mac announced a temporary exception to the November second UAD three point six appraisal deadline, allowing approved lenders to continue using either UAD two point six or three point six through May nineteenth, twenty twenty-seven. MBA has been working closely with GSE leadership for months to raise concerns about readiness across the appraisal ecosystem and the potential for higher costs and delays for borrowers. We appreciate the GSEs responsiveness to that feedback. Importantly, this is a phased transition. Lenders must request approval and beginning March first, UAD two point six will no longer receive valuation-related representation and warranty relief. Second, last week, the GSEs updated their pricing grids for VantageScore four point oh, aligning those loans with the existing classic FICO pricing grid. MBA will continue engaging with FHFA and the GSEs on these changes, including advocated for a modernized credit reporting system that uses both updated scoring models and for ending the mandatory tri-merge requirement. That’s it for this week, and if you haven’t already, go to mba.org/annual26 to register for our annual convention and expo taking place in Chicago, the Windy City, on October eleventh through the fourteenth. I hope to see you there.
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.