Bob Broeksmit: ‘MBA Won’t Rest Until GSE Release Is Done Right’
(Image courtesy of Anneliese Mahoney)
LAS VEGAS–Mortgage Bankers Association President and CEO Bob Broeksmit, CMB, took the stage at the organization’s Annual Convention and Expo, Oct. 20. When it comes to conversations with the administration about GSE reform, “we don’t just have a seat at the table,” said Broeksmit. “We’re near the head of the table–and we’re speaking loud and clear.”
“Our impact is evident in the tone that senior officials are now taking,” he said. “They’ve said that any reform will be, and I quote, ‘informed, careful and calibrated.’ ”
MBA is also working on a number of other regulatory and legislative matters, Broeksmit said, including with the Federal Housing Finance Agency on credit scores and reporting. He said that MBA is pushing to fix reporting and end the mandate that a tri-merge report be provided on every loan.
“You’ll be happy to hear that administration officials are hearing us out. They want to make homebuying more affordable for more Americans–and we share that noble and urgent goal,” he said.
Broeksmit also touted the wins and success that MBA has seen over the past year, noting it will be remembered as “a year of results.”
So far in 2025, MBA has had a hand in almost 10% of all laws that Congress has passed and President Donald Trump has signed.
The first big victory was the Homebuyers Privacy Protection Act, or the “trigger leads” bill. “When this legislation finally passed, it had unanimous support in the House and the Senate,” Broeksmit said. “That almost never happens.”
Another big legislative victory was the VA Home Loan Program Reform Act–although Broeksmit said there’s more work to be done on that front. “We’re already fighting for permanent relief. Our nation’s veterans deserve nothing less–and I’m confident that more victories are coming,” he said.
And, there’s the “One Big Beautiful Bill Act,” which Broeksmit said had the potential to profoundly hurt MBA companies if certain tax provisions weren’t renewed.
“Not only did we prevent you from being hurt, we secured enhancements that will help you for decades to come,” he said.
“Thanks to our efforts, the mortgage interest deduction is now permanent, as is the deductibility of mortgage insurance premiums,” he said. “The 20% deduction for pass-throughs is permanent, too, delivering tax parity for S-corps and partnerships with C-corps. And we made sure MSRs still receive favorable tax treatment.”
Looking at the regulatory environment, Broeksmit said MBA has “played a pivotal role” there, too. He described how when new leaders of HUD, FHFA and CFPB took office, MBA handed each of their teams a day-one list of priority reforms, which have informed some of the biggest decisions they’ve made so far.
“All told, they’ve taken action on 11 of the most important deregulatory items that we recommended,” he said.
One example is FHA’s multifamily mortgage insurance premium. “The agency reduced and standardized it last month, and it’s a big win for our multifamily members,” Broeksmit stated. “Another great example is at the CFPB, which has announced its intention to reform the Loan Officer Compensation Rule.”
“It truly has been a year of historic achievement,” Broeksmit said.
