Hi, I’m Adam De Sanctis with the Mortgage Minute, the latest news from the Mortgage Bankers Association. Ahead of an expected announcement in the coming weeks on housing affordability policy actions. President Trump signaled several new proposals last week aimed at easing housing costs. In a social media post, the president said he’s taking immediate steps to ban large institutional investors from purchasing additional single family homes and plans to ask Congress to codify that policy. He also indicated that housing affordability will be a key topic in his upcoming remarks at the World Economic Forum in Davos, Switzerland. Later this month. Additional reporting suggests the White House is also drafting an executive order on affordability that could include allowing prospective buyers to tap retirement or college savings accounts to help fund down payments. Then late last week, the President also said he has instructed his representatives at Fannie Mae and Freddie Mac to purchase $200 billion in mortgage backed securities. In an effort to bring down mortgage rates, I will note that some of these proposals, particularly at Bain on institutional investors, would likely require congressional approval. In response, MBA President and CEO Bob Broeksmit welcomed the administration’s focus on affordability and emphasized that MBA has already put forward targeted, actionable recommendations to reduce housing costs, including lowering FHA mortgage insurance premiums, reducing GSE loan level price adjustments. Reforming the loan officer compensation rule and reforms that expand construction, condominium, and multifamily lending programs. Regarding the GSCs purchasing M-B-S-M-B-A has long cautioned against expanding the GSEs MBS portfolios, noting the potential risk to market stability and taxpayers and the long run. Looking ahead. MBA remains actively engaged with the administration, federal housing agencies, and Congress to advance common sense administrative actions and legislation, including reconciling the House and Senate housing packages to improve affordability for both home buyers and renters. And finally, MBA’s IMB Conference takes place in Amelia Island, Florida on February 2nd through the 4th. We’re almost there. I’ll be there and I hope you’ll be joining us. Register today at mba.org/imb26.
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.