Advocacy Update: White House FY27 Budget; CFPB Updates; more
White House FY 2027 Budget Released
On Friday morning, the Trump administration released its Fiscal Year 2027 budget proposal. Each year, the President’s budget request, otherwise known as its “wish list,” provides a blueprint for the Administration’s priorities as Congress continues its work on the federal appropriations process for the coming fiscal year.
Go deeper: As expected, the budget highlights several spending reductions and program terminations, including:
• Reducing non-defense discretionary spending by $73 billion (10 percent) from the 2026 enacted level.
• Savings are achieved by eliminating programs and “by returning State and local responsibilities to their respective governments.”
• Requesting $1.5 trillion in total discretionary defense spending, a 44% increase.
Why it matters: Of note, the Administration is requesting $73.5 billion in discretionary budget authority for the Department of Housing and Urban Development, a $10.7 billion cut, or a 13% decrease from its 2026 enacted level. Despite the topline reduction, HUD’s budget includes investments in FHA and Ginnie Mae operations to support their housing finance missions. Specifically, the budget includes $160 million for FHA’s administrative costs to support access to affordable homeownership.
What’s next: Though the annual release of a President’s budget carries no force of law, it is an important marker of specific spending recommendations from any administration. MBA will continue its engagement with Congress and leaders at the federal housing agencies on our key industry priorities within the FY 2027 appropriations process and share a deeper review of the President’s budget with details on any long-term policy priorities and initiatives that impact our industry, including important IT initiatives.
For more information, please contact Bill Killmer at (202) 557-2736 or Pete Mills at (202) 557-2878.
CFPB Files New Staffing Plan in Bid to Dismiss Injunction
In a bid to lift an injunction against its plans to reduce staff, the Consumer Financial Protection Bureau (CFPB or Bureau) on Tuesday filed a motion with the DC Circuit Court outlining a new staffing plan for the agency. The plan calls for a reduction in force (RIF) to 556 employees, about half of the current staffing level but significantly more than the 90% reduction (to approximately 200 remaining staff) under the initial RIF plan that landed the CFPB in court.
Go deeper: In the filing, the Bureau provides staffing breakdowns by divisions and notes that this plan “supersedes any previous plans about the proper size and functioning of the agency.” The most significant reductions would fall on the CFPB’s Supervision and Enforcement functions, which would be reduced by 78% and 64% respectively.
• By contrast, the division responsible for research, market monitoring, and regulation-writing would experience a comparatively modest cut of 12% from its authorized level, but an actual increase from the current headcount. The regulations team within this division would actually be authorized to increase from 32 to 59 employees.
Why it matters: Should the CFPB be permitted to proceed with the RIFs using these staffing levels, particularly in the regulations function, the CFPB would be better able to tackle the significant rulemaking reforms called for under the Trump Administration’s recent Executive Order on “Promoting Access to Mortgage Credit.”
What’s next: The employee union that is seeking block the RIF at the CFPB will have until mid-April to respond to the CFPB’s motion. In the meantime, the CFPB earlier this week requested $76 million from the Federal Reserve to fund the current fiscal quarter ending June 30.
For more information, please contact Justin Wiseman at (202) 557-2854.
CPFB Publishes 2025 HMDA LAR Data
On Thursday, the CFPB announced that the Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2025 is now available on the Federal Financial Institutions Examination Council’s (FFIEC) HMDA Platform for 4,768 HMDA filers. The published data contains loan-level information filed by financial institutions and modified to protect consumer privacy.
Go deeper: Recently, MBA sent a letter in response to a Request for Information (RFI) from the CFPB pertaining to HMDA and its implementing regulations, Regulation C.
What’s next: MBA will keep members informed about any HMDA changes.
For more information, please contact Justin Wiseman at (202) 557-2854 or Alisha Sears at (202) 557-2390.
MAA Action Week, May 11-15: Sign Up to Run a MAA Enrollment
From May 11–15, MBA will rally members nationwide to engage with policymakers, share their stories, and help shape the future of real estate finance during MAA Action Week. SIGN UP to lead a campaign at your company or state association and help grow MBA’s FREE grassroots network of industry professionals. Your participation strengthens our collective impact and ensures our voice is heard.
Why it matters: A strong grassroots campaign does more than raise awareness — it builds a lasting advocacy engine that drives progress well beyond Action Week. When companies mobilize their teams, participation grows, momentum builds, and policymakers hear directly from the professionals shaping the residential mortgage landscape. With more than 100 organizations joining us last year, 2026 is our moment to set a new benchmark.
• MBA provides ready‑to‑use resources—email templates, social content, active MAA rosters, and more—making participation simple and efficient.
What’s next: Let’s make this milestone year truly monumental. Complete our sign-up form, and we will begin preparing your customized campaign materials.
For more information, please contact Jamey Lynch, AMP at (202) 557-2818.
Upcoming MBA Education Webinars on Critical Industry Issues
MBA Education continues to deliver timely single-family programming that covers the spectrum of challenges, obstacles and solutions pertaining to our industry. Below, please see a list of upcoming and recent webinars – all complimentary to MBA members:
• Social Media Compliance, Risk Mitigation and Best Practices – April 9
• State of the Market: Tech Trends Shaping the Future of Mortgage Lending – May 14
• FHA Credit Watch Program: Revisiting Delinquency Trends and Remediation – May 14
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.
