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CREF Policy Update: Broad Coalition Reiterates Need for Swift Action on TRIA

August 3, 2026


Broad Coalition Reiterates Need for Swift Action on TRIA

Last Wednesday, MBA joined a broad industry coalition in a letter to congressional leaders urging them to “expeditiously extend the Terrorism Risk Insurance Act (TRIA) before the end of the year.”

  • The letter also urges Congress “to avoid market disruptions and continue the economic certainty provided by the program by including a 7-year extension of TRIA on any ‘must pass’ legislation this year.”

Why it matters: Waiting until the final year of the TRIA authorization term to renew the program could bring uncertainty to the insurance market, as insurers and policyholders are beginning to negotiate policies that extend beyond the program’s current expiration (Dec. 31, 2027).

Go deeper: The House voted overwhelmingly in a 373-15 vote in June to advance a seven-year extension of the program (H.R. 7128) – with minor reforms. The Senate has its own “clean” seven-year extension (S. 4395), which has garnered over 30 bipartisan cosponsors since its introduction earlier this year.

What’s next: MBA and its coalition partners will continue to urge House and Senate leaders to attach a consensus TRIA reauthorization bill to any “must-pass” legislative vehicles as soon as possible – potentially the emerging Fiscal Year 2027 National Defense Authorization Act (NDAA), a vehicle that still appears likely to be reconciled and debated in both chambers of Congress before year’s end.

For more information, please contact Rachel Kelley at (202) 557-2816, Madisyn Rhone at (202) 557-2741, George Rogers at 202-557-2797 or Jeremy Green at 202-557-2849.

MBA Comments on FOMC Decision and Second Quarter GDP

The Federal Reserve held the federal funds rate at a target range of 3.50-3.75% on Wednesday, while new Second-Quarter 2026 GDP data released on Thursday showed the U.S. economy grew at a 1.5% annual rate.

Read MBA SVP and Chief Economist Mike Fratantoni’s commentary on each report:

For more information, please contact Mike Fratantoni at (202) 557-2935.  

MBA Offers Recommendations to FHFA Duty to Serve Proposal

Recently, MBA submitted comments to the Federal Housing Finance Agency (FHFA) in response to its Enterprise Duty to Serve Underserved Markets Proposed Rule. 

  • The proposed rule aims to enable Fannie Mae and Freddie Mac (the GSEs) to better serve the needs of very low-, low-, and moderate-income families in the manufactured housing, affordable housing preservation, and rural housing markets through greater innovation and reduced administrative burden.

MBA’s comment letter affirmed its support of the GSEs’ DTS mandate and efforts to improve the program by expanding its effectiveness and impact, reducing administrative burdens, and improving efficiency. The letter also expressed appreciation that many of the changes in the newly proposed regulation are responsive to recent efforts by the Administration to promote affordable housing.

  • Other key highlights from the letter included considerations related to manufactured housing, maintaining an appropriate public comment period, allowing requests to update submitted plans in response to specific market changes, and adopting a “do no harm” approach to ensure the proposed rule does not lead to unintended consequences. 

Go deeper: The proposal has a clear focus on manufactured housing and specifically asks about expanding the manufactured housing definition.

While MBA is supportive of changes that could expand that market, FHFA should take a measured approach to expanding this definition. As innovation in factory-built housing continues, financing and collateral policy should evolve alongside product innovation.

  • Modernizing the manufactured housing definition is an important first step, but maximizing the effectiveness of the Duty to Serve program will also require continued attention to valuation practices, secondary-market execution, and operational considerations that affect lender participation.

What’s next: MBA looks forward to continuing to work with FHFA and the GSEs as the rule moves toward finalization and will keep members informed of key developments throughout the process.

For more information, please contact Megan Booth at (202) 557-2740.

MBA Bank Senior Executive Roundtable Takes Place in NYC

Last Wednesday, MBA’s Bank Senior Executive Roundtable was held at JPMorgan’s new New York City headquarters.

  • The Roundtable brings together leaders of banks’ CRE portfolio lending programs for a deep dive into the market, policy, and other trends affecting their loan books. This year’s program ended with a property tour and reception.

Go deeper: Discussions highlighted both common opportunities/challenges and the differences between banks and programs, with a focus on loan payoffs, maintaining/growing loan portfolios, the surplus of capital in the market, how AI usage is maturing, data centers, multifamily, and more.

  • The group also dug into banks capital, CRA, BTR, and other policy issues currently in play and the outlook on Capitol Hill and for midterm elections.

What’s next: Senior leaders from across capital sources will meet Sept. 2-3 in New Orleans at MBA’s Cross-capital Source Senior Executive Roundtable. MBA’s Bank Senior Executive Roundtable will next meet in person at MBA’s Commercial/Multifamily Finance Convention and Expo on Feb. 7-10.

For more information or to get involved, please contact Kelli Burke at (202) 557-2742.

Upcoming MBA CREF Council and Committee Meetings

MBA’s CREF Councils and Committees are a key way to connect to everything MBA has to offer around policy, advocacy, market intelligence and research, education, and networking. Visit www.mba.org/yourCREF to find out more.   Councils and Committees are built around specific capital sources and serve as an opportunity for you to join other commercial real estate finance professionals to hear from experts, discuss opportunities and challenges, and connect with peers.

Upcoming virtual meetings include:

For more information, click on the links above and/or contact Kelli Burke at (202) 557- 2742.

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, opportunities, obstacles and solutions pertaining to our industry. Below, please see a list of upcoming and recent webinars – all complimentary to MBA members:

  • Ditching the Clipboard: Modernizing Loan Inspections and Compliance in Commercial Real Estate – Aug. 26
  • Decoding Blanket Property Insurance for Commercial and Multifamily Properties – Sept. 10
  • AI in Commercial Real Estate Finance: The AI-Powered Originator and Relationship Manager – Oct. 5
  • AI in Commercial Mortgage Finance: Intelligent Deal Screening and Pre-Underwriting – Nov. 2
  • AI in Commercial Mortgage Finance: Intelligent Document Processing Beyond OCR – Dec. 7

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.



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