New MBA Chair Laura Escobar to Focus on Supply, Affordability, Education
(Laura Escobar; Image by Anneliese Mahoney)
DENVER–Laura Escobar, the new Mortgage Bankers Association Chair for 2025, took to the stage at MBA’s Annual Convention & Expo Oct. 28, letting the crowd know that she is “here for the people.”
“The greatest joy in my life is building relationships that lead to results. I want to help our industry make a bigger difference in more lives,” Escobar said. “And to make that vision a reality, I’m going to lead with heart.”
She also serves as President of Lennar Mortgage.
She outlined her priorities as Chair, with a three-part focus: housing supply, affordability and education.
“Starting today, the MBA is going to get a whole lot louder on housing supply,” Escobar said. “We are currently short 1.5 million homes.”
It’s not just about building new homes, Escobar stated–it’s also about rebuilding and rehabilitating older homes.
“Decades of over-regulation have made it increasingly difficult to build new homes and rehabilitate old ones. For many small builders, it’s now close to impossible. As fewer new homes come into the market, the cost of other homes are rising even faster,” she said.
She listed challenges–including that 75% of land in the U.S. is zoned for only single-family homes, which on average now cost more than $390,000 to build. And, more than $93,000 of the final price of a new home is due to government regulations, Escobar said.
Escobar also listed affordability as one of her key priorities.
Once again, there’s a confluence of factors playing a role, including rising home insurance costs, property taxes and federal regulations that have made lending more expensive.
These factors don’t just affect buyers, but lenders, too.
“It now costs more than $11,000 for a lender to produce a mortgage loan,” Escobar said. “In 2022, alone, the cost of producing a loan rose 23%–which is almost $2,000–and guarantee fees increased 7%.”
Escobar has a plan, she said.
“I’ve spent years building strong bonds and have created trust and goodwill, and now is the time to use it,” Escobar said. “My message to […] every policymaker in D.C. is going to be simple: Hear me now and hear me loud. ‘Stop talking about affordability–and do something […] Deliver on affordability.’ ”
Finally, Escobar wants to focus on education–specifically training the next generation of mortgage professionals.
Escobar cited the MBA Mortgage Banking Bound program as one initiative helping to recruit younger and more diverse employees to the industry.
It was launched in 2022, and offers 100 hours of instruction to college students, led by industry professionals. Upon completion, students receive an executive certificate in residential real estate finance.
So far, 44 students have graduated, with a similar number on track this year. It was originally launched with Miami’s Barry University, with an expansion to Middle Tennessee State University.
“Next year, we’re going to move into the Dallas College, and we’re also in talks with universities in Michigan, Colorado and Alabama,” Escobar said.
She also cited the in-progress development of an accredited course at Cleveland State University focused on loan origination and processing, and work with the University of Nebraska on the possibility of offering stackable certificates on various industry topics.
Escobar closed her remarks with two promises: one, that she would draw on the wealth of wisdom from the officers who came before her.
“Second, I’m going to lean on all of you, MBA members. MBA amazing members–this year is about you,” Escobar said. “The more you talk with me, folks, the more MBA can help.”
