CREF Policy Update: CFPB Agrees to Reopen Dodd-Frank Section 1071 Rulemaking
CFPB Agrees to Reopen Dodd-Frank Section 1071 Rulemaking
Following up on recent House Financial Services Committee passage of legislation (H.R. 976) to repeal the Section 1071 provision from the Dodd-Frank Act, the Consumer Financial Protection Bureau (CFPB) announced that it will initiate a new rulemaking.
• As part of a court filing, the CFPB recently stated that it will be issuing a Notice of Proposed Rulemaking that could diminish the underlying regulation’s small business loan reporting requirements.
Go deeper: Since 2023, MBA has urged the CFPB to narrow the rule’s scope, including an overall exemption for loans to finance income-producing investment properties in the final rule, but the Bureau failed to do so. It is well recognized that investment property lending is a category of lending distinct from small business lending.
What’s next: MBA will continue to advocate for the repeal, or narrowing of the scope, of the required reporting regime, either legislatively or regulatorily.
For more information, please contact Megan Booth at (202) 557-2740.
House of Representatives Passes Identical Version of Senate’s Budget Framework; Reconciliation Debate Begins
Last week, the full House of Representatives passed a version of the Fiscal Year 2025 Concurrent Budget Resolution (H.Con.Res. 14) identical to one passed recently by the Senate. This House and Senate alignment on a budget framework was needed to set the stage for a highly anticipated tax/reconciliation debate given the expiration of many major provisions of President Donald Trump’s 2017 tax reforms.
• The House vote on the framework was passed along largely partisan lines, with all Republicans but two voting for the measure (216-214).
Why it matters: The macro tax debate will pit fiscal hawks against moderate Republicans as GOP leaders try to square their conflicting demands to cut billions of dollars from federal programs and protect safety-net programs like Medicaid. MBA is advocating to preserve major provisions of the current tax code central to our members’ business operations – and needed to maintain an appetite for investment in commercial/multifamily real estate.
What’s next: Republicans on both sides of the Capitol can begin the even-heavier lift of writing — and then whipping support for — the behemoth package of tax cuts, military spending, energy policy, border security investments, and more. MBA’s Board-level Tax Task Force will continue to provide needed guidance to our engaged association staff as MBA’s direct/grassroots lobbying efforts intensify in the coming weeks.
For more information, please contact Bill Killmer at (202) 557-2736.
Recap: MBA’s National Advocacy Conference (NAC25)
Last week, MBA hosted its annual legislative fly-in before a packed audience of approximately 600 industry advocates.
• Those National Advocacy Conference (NAC25) attendees heard from a great lineup of guest speakers, including HUD Secretary Scott Turner, Senate Banking Committee Members Thom Tillis (R-NC), Pete Ricketts (R-NE), Elizabeth Warren (D-MA), and Mark Warner (D-VA), and House Financial Service Committee Members Congresswoman Lisa McClain (R-MI) and Congressman Ritchie Torres (D-NY).
Go deeper: More than 400 MBA members, representing 43 states, participated in 285 scheduled Capitol Hill meetings on Wednesday.
• Once again, MBA hosted a tailored CREF track meeting — with several key lawmakers and legislative staff experts, former GSE leaders, insurance and regulatory experts, and more. The CREF-focused priorities covered ranged from commercial/multifamily tax policy to CFPB and HUD regulatory concerns to the cost and availability of insurance.
• Congratulations to the 2025 Burton C. Wood Legislative Service Award winner, Western MAA Vice Chair Becky Sandiland, CMB, of Belay Bank Mortgage. Save the Date for NAC26 – April 14-15, 2026, in Washington, D.C. We also thank all of our event sponsors!
Why it matters: NAC is a great opportunity for industry players to meet with their elected officials (and top aides) and regulatory leaders about issues that impact the commercial/multifamily real estate and mortgage markets.
What’s next: MBA will continue to engage with members and industry advocates on policy priorities throughout the year. For example, please join MBA for the Mortgage Action Alliance (MAA)’s Action Week (May 12-16) and encourage your industry colleagues to get involved.
For more information, please contact Jamey Lynch, AMP at (202) 557-2818.
MBA Hosts FHA Lender Roundtable
Last week, MBA hosted its Spring FHA Roundtable in Washington, D.C.
• Over the course of two days, MBA members engaged in an intimate roundtable discussion with HUD staff and the newly appointed Deputy Assistant Secretary for the Office of Multifamily Housing, Lamar Seats. The meetings included discussions on multifamily and healthcare lending.
Why it matters: MBA members had the opportunity to share ideas and concerns and hear from HUD leadership on key issues related to FHA insurance programs. Key topics discussed included ideas for underwriting efficiencies, green mortgage insurance premiums, HUD and FHA staffing, build-to-rent strategies, 10-year PCNAs, and more.
What’s next: MBA will continue to advocate for the issues raised by its members and will work collaboratively with HUD staff to develop effective solutions.
For more information, please contact Megan Booth at (202) 557-2740.
MBA State and Local Workshop Provides Empowerment Tools to Partner Associations
Last week, state and local real estate finance association leaders from nearly 40 associations traveled to Washington, D.C., to learn from each other and share best practices at MBA’s State and Local Workshop. Attendees engaged in panel sessions and open discussion on strategies to enhance their advocacy effectiveness and build member value.
Why it matters: The industry’s 134 independent associations are essential to advancing real estate finance interests that benefit the industry and consumers at the state and local level. Their robust actions have led to an impressive string of legislative and regulatory accomplishments over the last decade.
• The group explored new opportunities such as partnerships with MBA Education and adding programs and services for commercial and multifamily businesses. The group also explored how to better leverage the Certified Mortgage Banker (CMB) community to enrich the ranks of their groups’ volunteers.
What’s next: MBA will continue to convene its partner associations to carry on the exchange of ideas and is already surveying this year’s participants for their feedback to begin planning next year’s Workshop on April 13-14.
For more information, please contact William Kooper (202) 557-2737 or Ainsley Zimmer (202) 557-2796.
MBA, Other Trades Respond to House Energy & Commerce Committee RFI on Data Privacy
Recently, MBA signed onto a joint trades letter responding to a request for information (RFI) from the House Energy & Commerce Committee (E&C Committee) on data privacy, data security, and artificial intelligence (AI).
• The RFI asked questions to all industries related to establishing a national data privacy law, similar to the American Data Privacy and Protection Act (ADPPA) that was introduced in a previous Congress. The RFI also asked questions about how this national data privacy law should regulate the use of artificial intelligence.
Why it matters: In the letter, MBA and the other trades argued that any national data privacy law should recognize the privacy and data security standards that are already in place for financial institutions under the Gramm-Leach Bliley Act (GLBA) and other financial privacy laws and that these laws should be enforced by federal and state regulators. Additionally, Congress should eliminate the patchwork of state privacy, data security, and AI laws. Lastly, Congress should recognize existing risk management frameworks that financial institutions already follow.
What’s next: MBA will monitor this effort and keep members informed if and when Congress attempts to fashion federal data privacy standards.
For more information, please contact Madisyn Rhone at (202) 557-2741, Rachel Kelley at (202) 557- 2816, Justin Wiseman at (202) 557-2854, or Gabriel Acosta at (202) 557- 2811.
Senate Banking Committee Holds Federal Reserve and HUD Nominations Hearing
Last Thursday, the Senate Banking Committee held a hearing to consider the nominations of Andrew Hughes and David Woll to be HUD Deputy Secretary and General Counsel, respectively, and current Federal Reserve Governor Michelle Bowman to be Vice Chairman for Supervision of the Federal Reserve Board of Governors.
• A summary of the hearing can be found here.
Why it matters: The hearing featured significant partisan debate over President Donald Trump’s economic policies, from reducing federal employees at HUD to the imposition of tariffs and their impact on housing affordability. Senators also gave intense scrutiny to Bowman’s views of recent Federal Reserve actions including Basell III rulemaking, the collapse of Silicon Valley Bank, and bank examination activities.
• Hughes pledged to increase housing supply, reduce barriers to homeownership, and ensure transparency in HUD’s operations.
• Woll highlighted his experience managing investigations at HUD as Deputy General Counsel and his role as General Counsel for the Special Inspector General for Pandemic Recovery, where he oversaw legal matters ranging from ethics to interagency cooperation.
• Bowman said she would prioritize four key areas: the need to reform and refocus supervision to address weaknesses observed in recent years, the importance of regulatory efficiency and tailoring, the need to foster innovation in the banking system, and the importance of transparency and accountability in both supervision and regulation.
What’s next: The committee is expected to hold an executive committee meeting to vote on the nominations in May.
For more information, please contact Ethan Saxon at (202) 557-2913 or George Rogers at (202) 557-2797.
MBA Applauds Bipartisan Reintroduction of LIHTC Enhancement/Expansion
Last week, a bipartisan group of House lawmakers reintroduced the Affordable Housing Credit Improvement Act of 2025 (AHCIA)— a measure designed to strengthen and expand the Low-Income Housing Tax Credit (LIHTC) and help address the nation’s affordable housing crisis.
Why it matters: MBA strongly supports the AHCIA as a needed set of improvements to Section 42 of the tax code that will increase the supply of affordable rental housing. The LIHTC program has financed more than 3.8 million affordable homes since its inception, leveraging public-private partnerships to serve working families, seniors, and underserved communities.
• The House bill, led by Representatives Darin LaHood (R-IL), Suzan DelBene (D-WA), Claudia Tenney (R-NY), Don Beyer (D-VA), Randy Feenstra (R-IA), and Jimmy Panetta (D-CA), was introduced with 114 original bipartisan cosponsors, representing more than one-quarter of the House.
• A Senate companion bill is expected to be introduced later this month by Senators Todd Young (R-IN), Maria Cantwell (D-WA), Marsha Blackburn (R-TN), and Ron Wyden (D-OR).
• The 2025 bill includes key financing provisions contained in prior versions of the proposals, such as:
A 50% increase in Housing Credit allocations over two years;
A reduction of the Private Activity Bond threshold from 50% to 25%;
Targeted basis boosts for rural areas, Tribal communities, and extremely low-income populations.
These enhancements are projected to support the development of nearly 1.6 million new affordable homes over the next decade.
What’s next: As Congress conducts a major tax policy debate later this year, MBA (and a broad housing coalition) will continue to urge lawmakers to include the AHCIA’s key provisions in any comprehensive tax package. MBA will continue to advocate for long-term, bipartisan solutions that expand housing supply and improve affordability for communities across the country.
For more information, please contact Madisyn Rhone at (202) 557-2741 or Rachel Kelley at (202) 557- 2816.
HFSC Subcommittee Hearing Recap: Restoring Accountability at HUD
Last Wednesday, the House Committee on Financial Services Subcommittee on Oversight and Investigations, led by Chairman Dan Meuser (R-PA), held a hearing titled, “Decades of Dysfunction: Restoring Accountability at HUD.”
• The hearing focused on the urgent need for HUD to modernize its outdated IT infrastructure, which Republican members and Acting Inspector General Begg argued currently limits HUD’s ability to collect data, monitor program performance, and detect waste, fraud, or abuse.
• Inspector General Begg highlighted significant vulnerabilities in HUD’s fraud detection efforts, particularly in rental assistance and its FHA loan programs. Many Democratic members questioned the legitimacy and authority of the Department of Government Efficiency (DOGE) task force operating within HUD.
Why it matters: The Trump administration has tasked HUD and other agencies with making large cuts to their budgets and personnel.
What’s next: MBA will continue to advocate for HUD to have the personnel and materials they need to implement the programs affecting MBA members.
For more information, please contact Madisyn Rhone at (202) 557-2741 or Rachel Kelley at (202) 557- 2816.
REGISTER: Town Hall with MBA Leadership: The New Administration’s First 100 Days
Thursday, April 17, at 3:00 p.m. ET, MBA’s Pete Mills, Senior Vice President of Residential Policy and Strategic Industry Engagement, and other MBA leaders engaged on policy issues, will host another town hall webinar on the latest developments in the single-family and commercial/multifamily arenas under the Trump administration and MBA’s ongoing work on them.
• Register here for MBA’s new series covering the first 100 days of the Trump administration. Attendees can send questions beforehand to First100Days@mba.org.
Why it matters: MBA continues to monitor ongoing developments at the federal agencies and is engaging with the Trump administration to promote activities and priorities that advance investment and growth in real estate markets. Hear the latest from the team on recent legislative and regulatory activities.
What’s next: MBA remains actively engaged with legislators, senior appointees, and key staff at all agencies that impact the industry and continues to:
• Advocate for the continuation of programs and policies that benefit the real estate finance markets, borrowers, and the industry;
• Recommend sensible changes that lower the cost of lending, promote competition, and ensure continued support for commercial and multifamily investment; and
• Warn against potential actions that would lead to disruptions in the single-family and commercial/multifamily markets.
For more information, please contact Jamie Woodwell at (202) 557-2936, Bill Killmer at (202) 557-2736, or Pete Mills at (202) 557-2878.
Upcoming MBA Education Webinars on Critical Industry Issues
MBA Education continues to deliver timely commercial/multifamily and single-family programming that covers the spectrum of challenges, obstacles and solutions pertaining to our industry. Below, please see a list of upcoming and recent webinars – all complimentary to MBA members:
• Builder’s Risk Insurance: Analysis & Perspectives – April 17
• Basics of Commercial Loan Closing and Loan Documentation – May 1
• CMF Risk Management Series: Pre-Closing Risk Reduction Tactics – May 6
• Introduction to Commercial Mortgage Backed Securities – May 21
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.
