MBA CREF Policy Update Sept. 1 2022

Bill Killmer bkillmer@mba.org; Mike Flood mflood@mba.org

Last Tuesday, FHFA announced it intends to establish a Federal Advisory Committee on Affordable, Equitable, and Sustainable Housing. The Committee’s purpose is to provide information, analysis, and recommendations to FHFA on these matters. And last Wednesday the SEC published a draft of its strategic plan for fiscal years 2022-2026.

Sign MBA’s Home for All Pledge: Join the 320+ MBA member companies that have signed MBA’s Home for All Pledge, representing a commitment to promoting affordable rental housing; minority homeownership; and company diversity, equity, and inclusion. One senior executive (e.g., CEO, COO, President, Head of Lending, SVP) is encouraged to sign this online form on behalf of your organization. 

FHFA Announces Advisory Committee on Affordable Housing

Last week the Federal Housing Finance Agency announced its intent to establish a Federal Advisory Committee on Affordable, Equitable, and Sustainable Housing. The Committee’s purpose is to provide information, analysis, and recommendations to FHFA on these matters. The Committee will not set policy or make decisions nor will they have access to non-public FHFA information.

• Why it matters: The Committee will consist of approximately 20 members, serving two-year terms, who have relevant housing experience. The Committee shall include at least one member with expertise in multifamily lending, servicing, development, or investments. FHFA will solicit nominations and applications for membership in a subsequent notice.
• What’s next: MBA will follow developments closely and report all relevant information to members.

For more information, contact Stephanie Milner at (202) 557-2747.

SEC Releases Draft Strategic Plan for Fiscal Years 2022-2026

Last Wednesday, the U.S. Securities and Exchange Commission published a draft of its strategic plan for fiscal years 2022-2026. According to the press release, “SEC intends to enhance the use of market and industry data to prevent, detect, and prosecute improper behavior. The SEC also seeks to modernize design, delivery, and content of disclosures to investors so they can access consistent, comparable, and material information while making investment decisions.”

• Why it matters: The draft strategic plan outlines the SEC’s continued commitment to sophisticated data analysis in its enforcement and regulatory actions and its approach to climate and ESG disclosures. In June, MBA submitted comments in response to the SEC’s notice of proposed rulemaking on climate-related disclosures.
• What’s next: The SEC is seeking comments on the draft strategic plan, which must be received 30 days after its publication in the Federal Register.

For more information, contact Grant Carlson at (202)-557-2765.

CFPB to Hold Field Hearing on Nursing Home Medical Debt Collection Practices

The Consumer Financial Protection Bureau announced it will hold a field hearing on September 8, 2022, focused on nursing home debt collection practices.

• Why it matters: The event hosted by CFPB Director Rohit Chopra will bring “advocates, service providers, community leaders, and members of the public to explore challenges around nursing home debt collection practices and the impact they can have on the financial wellbeing of caregivers, their families, and friends.”
• What’s next: MBA will follow developments closely and report all relevant information to members.

For more information, please contact Stephanie Milner at (202) 557-2747.

State Trackers

• State eviction moratorium and legislative activity tracker available here and here.

For more information, contact William Kooper at (202) 557-2737 or Grant Carlson at (202) 557-2765.

Upcoming MBA Education Webinars on Critical Industry Issues

MBA Education continues to deliver timely programming that covers the spectrum of challenges, obstacles and solutions pertaining to our industry. Below, please see a list of upcoming webinars, which are complimentary to MBA members:

• The Power of Reverse Mortgages for a Changing Market – September 1
• Climate Risk Management: Data & Analytics – September 7
• Relationships Matter: How to turn Today’s Purchaser into Tomorrow’s Refinancer – September 8
• CRE Mortgage Risk and What the Pandemic Taught Us – September 20

MBA members can register for any of the above events and view recent webinar recordings.

For more information, contact David Upbin at (202) 557-2931.