CREF Policy Update: Senate Confirms William Pulte as FHFA Director
Senate Confirms William Pulte as FHFA Director
Last week, the full Senate voted (56-43) to confirm William Pulte as Director of the Federal Housing Financing Agency (FHFA). Last week, Pulte garnered bipartisan support for his nomination when the Senate Banking Committee voted 15-9 in favor of advancing his confirmation to the full Senate for a floor vote.
What they’re saying: MBA’s President and CEO Bob Broeksmit, CMB, congratulated Director Pulte in a press statement, stating, “Our members stand ready to work with Director Pulte and his team, Fannie Mae and Freddie Mac staff, the Federal Home Loan Banks, and other industry stakeholders to increase affordable and sustainable homeownership and rental housing opportunities for all Americans while ensuring a robust secondary mortgage market for single-family and multifamily lenders of all sizes and business models.”
What’s next: Director Pulte will lead FHFA’s numerous efforts that impact MBA members, including any actions taken jointly with the Treasury Department to release the GSEs from their current conservatorship. MBA looks forward to engaging with Director Pulte and FHFA staff on the future of the GSEs as well as all relevant matters pertinent to single-family and multifamily markets.
For more information, please contact George Rogers at (202) 557-2797, Ethan Saxon at (202) 557-2913, or Megan Booth at (202) 557-2740.
Andrew Hughes Officially Appointed as HUD Deputy Secretary
Last Tuesday, President Trump nominated Andrew Hughes to serve as the next Deputy Secretary at the Department of Housing and Urban Development (HUD).
MBA’s Broeksmit released a statement congratulating Andrew Hughes on his nomination.
Why it matters: Hughes brings extensive experience to this new post, having served as Chief of Staff for former HUD Secretary Ben Carson during the first Trump administration. This experience gives him a useful perspective on methods to improve HUD’s operations, including its programs to support rental housing opportunities.
What’s next: MBA will continue to engage with HUD’s leadership to address challenges and opportunities within the agency, including improving technology and efficiency, and ensuring that FHA remains a viable financing option for multifamily markets.
For more information, please contact Megan Booth at (202) 557-2740.
REGISTER: Town Hall with MBA Leadership: The New Administration’s First 100 Days
Today, March 20, at 3:00 p.m. ET, MBA’s Broeksmit 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 is engaged with the Trump administration and is communicating the industry’s priorities, working to promote activities and future priorities that are aligned with supporting investment and growth in real estate markets.
• Federal agencies were directed to develop and send by March 13 Agency Reduction in Force (RIF) and Reorganization Plans (ARRPs) to the Office of Management and Budget (OMB) and Office of Personnel Management (OPM).
What’s next: MBA remains actively engaged with the senior appointees and key staff in place at all agencies that impact the industry and continues to:
• Advocate for the continuation of programs and policies that benefit the real estate finance market, borrowers, and the industry;
• Recommend sensible changes that lower the cost of lending, promote competition, and ensure the 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 Megan Booth at (202) 557-2740, Jamie Woodwell at (202) 557-2936, or Bill Killmer at (202) 557- 2736.
Senate Banking Committee Holds Hearing on Housing Affordability
Last Wednesday, the Senate Banking Committee held a hearing on housing affordability and the reasons behind the challenges, including supply shortages, regulatory barriers, and the role of the federal government. Republicans on the committee discussed shrinking federal programs, reducing homeownership barriers, and using market-based solutions. Democrats underscored the federal government’s role in expanding affordable housing, providing housing assistance, ensuring equity, and protecting renters.
• Witnesses discussed methods to increase housing supply, the need for reduced fees and increased use of technology, local zoning restrictions, homelessness, and affordability issues, among others.
• A summary of the hearing, including more information about the witness testimony, may be found here.
Why it matters: The hearing showed there is bipartisan agreement that more needs to be done to increase housing supply. In addition, senators discussed their legislative ideas, many of which have bipartisan support.
Go deeper: Banking Chair Tim Scott (R-SC) discussed his Road to Housing Act, which has targeted reforms to reduce regulatory barriers, streamlines development processes, and seeks to make sure taxpayer dollars are used effectively. MBA led a joint trades letter in support of the Road to Housing Act in the last Congress. Ranking Member Elizabeth Warren (D-MA) listed the names of ten bills of committee members, mostly bipartisan, that could be part of an eventual mark-up.
What’s next: MBA will continue to actively engage the members of the Senate Banking Committee and the full Congress on advancing legislation that addresses supply and affordability challenges.
For more information, please contact George Rogers at (202) 557-2797 or Ethan Saxon at (202) 557-2913.
MBA to Host Bank Council Virtual Meeting on March 26
MBA’s Bank Council will hold its next quarterly virtual meeting on Wednesday, March 26 at 1 p.m. ET.
• MBA’s CREF Bank Council brings together MBA members to discuss the latest issues and trends affecting bank lending backed by commercial and multifamily mortgages. This meeting will include discussions of the latest market conditions, including opportunities and challenges for existing loans and new originations. MBA’s Megan Booth will lead the discussion on policy, and MBA Chief Economist Michael Fratantoni will share his latest market outlook.
Why it matters: The MBA Bank Council provides members with an opportunity to hear from expert speakers, share market intelligence, and network with peers, all with a special focus on the perspective of depositories.
What’s next: If you’re not yet a member of the Bank Council and would like to get involved, visit the Councils & Committees page on MBA’s website.
• MBA & Council Leadership John Harvey (Chair) and Brandon Pugh and Sandeep Patel (Vice Chairs) host this meeting quarterly.
For more information, please contact Tonya Wright at (202) 557-2846.
Attend MBA’s National Advocacy Conference on April 8-9; Over 400 Advocates Registered
Join us in Washington, D.C. to meet with key policymakers, network with colleagues across the industry, and hear from policy experts on the topline issues impacting the industry. Key advocacy issues to be covered in a dedicated commercial/multifamily track include the potential for GSE release, real estate-related tax policy priorities, legislation intended to increase housing supply, insurance-related concerns, CFPB-related regulatory relief (Section 1071 and HMDA reporting requirements) and more.
• Though further guests will be confirmed in the coming days, currently scheduled speakers include House GOP Conference Chair Lisa McClain (R-MI), key House Financial Services Committee member Ritchie Torres (D-NY), and managing editor of Hotline at National Journal Kirk A. Bado.
An exclusive reception will be held on Tuesday, April 8, at the Renwick Gallery of the Smithsonian American Art Museum. Lend your voice to our efforts and bring your expertise and experiences to the table.
• Check out MBA’s group passes pricing.
Why it matters: Your participation at NAC ensures that members of the 119th Congress and the administration understand how proposed legislation affects your employees, your end users, and the communities you (and they) serve.
What’s next: MBA will use our NAC25 efforts as a key means to directly advocate of behalf of the policy priorities (both legislative and regulatory) that impact the real estate finance industry.
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 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:
• Understanding Parametric Insurance: A Lender’s Guide to Maximizing Protection and Efficiency – April 10
• Uncovering Fraud in Commercial/Multifamily Lender-Placed Insurance – April 15
• Builder’s Risk Insurance: Analysis & Perspectives – April 17
• Basics of Commercial Loan Closing and Loan Documentation – May 1
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.
