MBA Issues 2016 Residential Issue Priorities

The Mortgage Bankers Association issued its 2016 Residential Issue Priorities, ranging from implementation of multiple Dodd-Frank Act rules to restructuring the housing finance system.

“The real estate finance industry continues to deal with a host of complex policy challenges,” MBA said. “The industry’s ability to navigate and manage these changes is critical to our efforts to serve consumers and responsibly grow our businesses.”

MBA said in 2016, its residential policy efforts will be shaped by several key dynamics:

–Another massive regulatory implementation project stemming from a major expansion of the Home Mortgage Disclosure Act, known as HMDA;

–Continued challenges integrating “Know Before You Owe” disclosures into the mortgage origination process, the result of last October’s implementation of the Consumer Financial Protection Bureau’s TILA/RESPA Integrated Disclosure rule;

–Uncertainty and risk created through reliance on enforcement actions by the CFPB and other federal agencies to reinterpret rules of the road and create new regulatory policy;

–Continued political gridlock over possible reform of Fannie Mae and Freddie Mac to end their conservatorship and establish a new foundation for the secondary mortgage market; and

–Housing market and credit conditions that continue to be adversely impacted by regulatory policies that constrain affordability and access to homeownership.

The complete list of MBA 2016 Residential Issue Priorities can be accessed here.