CREF Policy Update Sept. 14: Senate Banking Committee Examines Property Insurance Market Challenges
- Senate Banking Committee Holds Hearing on Property Insurance
The Senate Banking Committee held a hearing last week titled, “Perspectives on Challenges in the Property Insurance Market and the Impact on Consumers.” A summary of the hearing can be found here.
• Why it matters: MBA submitted a letter/statement for the record ahead of the hearing on top industry priorities, including the need to reauthorize the National Flood Insurance Program (NFIP) – set to expire on September 30, 2023 – addressing the rising costs and declining availability of private property insurance coverage, and reforms to the Federal Housing Administration (FHA)-insured Multifamily Program.
• What’s next: MBA will work with members of Congress on both sides of the aisle to stress the importance of avoiding a lapse in the NFIP program while stressing the need for a long-term authorization to protect residential and commercial real estate markets and provide stability for the companies and agents that sell and administer the NFIP.
For more information, please contact Ethan Saxon at (202) 557-2913 or George Rogers at (202) 557-2797.
- Get Involved – MBA Advocacy Month Kicks Off in September
Join MBA’s Legislative and Political Affairs (LPA) team this month for MBA Advocacy Month, an all-member campaign focused on raising awareness on the top single-family and commercial/multifamily issues that can help produce positive policy changes at the national level.
• Why it matters: Throughout this month, MBA will work with members to engage with their employees and help run impactful Mortgage Action Alliance (MAA) and MORPAC campaigns. In addition, MBA staff will host (virtual) events, including legislative townhall(s) and webinars with a focus on how members can make their voices more effectively and better heard.
• What’s next: If interested in learning more and how to get involved, visit mba.org/advocacymonth.
For more information, please contact Jamey Lynch, AMP, at (202) 557-2818.
- Upcoming MBA Education Webinars on Critical Industry Issues
MBA Education continues to deliver timely single-family and commercial/multifamily 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:
• Optimizing Technology in the Origination Process – September 12
• Budgeting and Financial Planning for Non-Believers – September 13
• Section 1071: A Practical Approach to Unpacking the CFPB’s Final Rule – September 13
• Value of Surveillance in Managing CRE Credit Risk – September 14
• MCPI/Zone of Opportunity: Understanding the Demand Side of Mortgage Origination – September 26
• An Overview of Regulatory Capital Requirements Proposed Revisions – September 27
MBA members can register for any of the above events and view recent webinar recordings by clicking here.
For more information, please contact David Upbin at (202) 557-2931.
