MBA Welcomes Members to Washington for Advocacy Conference

WASHINGTON–Mortgage Bankers Association President and CEO Robert Broeksmit, CMB, welcomed more than 400 MBA members here to the MBA National Advocacy Conference with a call to action.

“At MBA, the first words of our motto is ‘One Voice,’ and here at the NAC it’s our opportunity to make our voices heard on Capitol Hill,” Broeksmit said. “When MBA makes its voice heard, we get attention and we get results.”

BroeksmitFor example, Broeksmit said, MBA recently mobilized to make sure that when Congress cut taxes, it didn’t hurt home buyers. “When it looked like the Senate might radically alter mortgage servicing rights, we called key lawmakers and told them the American people deserve better than less competition and higher mortgage rates,’ he said. “Working with Senator Mike Rounds [S.D.], we killed that provision and we protected American families.”

After the tax bill passed, MBA worked with the administration to make sure that all its members benefited, Broeksmit said. “We secured new rules from the IRS that give independent mortgage bankers and community banks the same tax cuts as small and mid-size businesses, so they can give their customers the best products at the best price,” he said.

More recently, during the government shutdown when the IRS stopped processing paperwork for mortgage applications, which put home closings at risk, MBA and its members mobilized again. “Thanks to our joint efforts, we got the IRS to get back to work and we saved the day for American families,” he said.

Broeksmit noted the 116th Congress is relatively new, with more than 100 new representatives and senators still getting their bearings. “We have an opportunity to educate them and forge strong new relationships,” he said. “That’s why they need to hear from you. You can get in on the ground floor. You can help guide this new Congress to do what’s right for the American communities, homeowners and renters.”

Broeksmit emphasized Capitol Hill needs to hear from MBA members. “You have a story to tell,” he said. “It’s not a story about your business; it’s a story about people. It’s the story about the communities and homeowners and renters who rely on you. Ultimately, you’re telling the story of American families who want to achieve the American Dream. It’s something that every member of Congress needs to hear.”

Broesmit emphasized that MBA’s core issues–housing, mortgage, finance–matter to every American. They may not make the headlines, but they’re a part of daily life for most Americans,” he said. “Homeownership is still the single largest source of wealth for the American people, so anything that affects it deserves immediate attention.”

“Advocacy is not a two-day thing; it’s a year-long commitment,” Broeksmit added. “At MBA, every day is ‘Advocacy Day.'”