To the Point with Bob: Bipartisan Effort Helps Protect Affordable Mortgages for Veterans

BobBroeksmitIn the latest edition of To the Point with Bob, MBA President and CEO Robert Broeksmit, CMB, discusses how MBA advocacy resulted in a bipartisan effort on Capitol Hill to assist the nation’s veterans.

Last week, President Trump signed the Protecting Affordable Mortgages for Veterans Act of 2019. This new law eliminates the confusion and duplicative requirements created by regulatory reform efforts in 2018 that had rendered some loans with valid VA guarantees ineligible for Ginnie Mae pooling.

“The road to fixing those unintentional errors can often be long and require deep cooperation from unlikely allies. Sometimes solutions don’t come to pass,” Broeksmit writes. “Today MBA celebrates the possible: bipartisan cooperation that fixes an inadvertent legislative mistake that ‘orphaned’ thousands of VA loans and created troubling uncertainty in the market.

Broeksmit writes about how MBA and its members worked with members of Congress in both parties to craft a solution.

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