Advocacy Update: White House FY 2027 Budget Deep Dive
White House FY 2027 Budget Deep Dive
Recently, the Trump administration released its Fiscal Year 2027 (FY27) 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.
• Read MBA’s analysis of the President’s budget with details on long-term policy priorities and initiatives that impact our industry, including important IT initiatives.
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.
For more information, please contact Pete Mills at (202) 557-2878
Access MBA Education’s Updated Single-Family Appraisals Training
MBA Education has completed a major update to its Introduction to Single-Family Appraisals series, which is comprised of three courses:
• Analyzing the Appraisal
• Property Valuation for Fannie Mae Loans
• Property Valuation for Freddie Mac Loans
Why it matters: MBA Education updated its series to align with the new Universal Residential Appraisal Report (URAR) and Uniform Appraisal Dataset (UAD 3.6), one of the most significant appraisal changes in years. With lenders now able to use the new format and mandatory adoption starting in November 2026, lenders must quickly build fluency in the updated framework.
• The refreshed courses ensure learners understand not just the new form, but how appraisal data is structured, submitted, and evaluated in a more dynamic, digital environment.
What’s next: The updated series features a fully redesigned content with new or enhanced interactive elements, ranging from knowledge checks and “Think About It” exercises to immersive “Field Trips,” case studies, and a new video tutorial on navigating appraisal resources. MBA will continue to provide URAR and UAD 3.6 training resources.
For more information, please contact David Upbin at (202) 557-2931.
Prepare for NMLS System Updates Effective April 18
The Nationwide Multistate Licensing System (NMLS) will implement significant system updates on April 18, including revised Individual Disclosure Questions and an enhanced Employment Reporting management process. These changes will affect MU4 and MU2 filers—such as state-licensed mortgage loan originators, control persons, and company users who manage relationships and sponsorship filings.
Why it matters: Impacted users must review and complete all required updates by August 31, 2026, to ensure compliance and avoid processing delays during the 2027 renewal cycle. Additionally, the requirement to complete these new disclosure questions will be triggered with a change in control or other company licensing changes. The enhancements will streamline disclosure reporting and automatically populate employment data from company relationships directly into individual forms (MU4, MU2, and MU4R).
What’s next: MBA encourages members and their compliance teams to familiarize themselves with the changes by visiting the NMLS Disclosure Questions Update page and reviewing NMLS’s Employment Reporting Enhancement Overview.
For more information, please contact William Kooper (202) 557-2737 or Liz Facemire (202) 557-2870.
MAA Action Week, May 11-15: Sign Up to Run a MAA Enrollment Campaign
On 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:
• Closing the Performance Gap: What Top-Tier Mortgage Lenders Do Differently – May 13
• 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
• Structuring the SAR Narrative: A Four-Part Framework That Works – May 19
• Analyzing the 2025 Mortgage Market: A Deep Dive into New HMDA Data – July 22
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.
