During their Annual Convention and Expo in Las Vegas, Mortgage Bankers Association (MBA) President and CEO Bob Broeksmit proudly declared 2025 a year of unprecedented success for the organization. He underscored major legislative and regulatory triumphs that will profoundly impact the mortgage sector and the broader economy. Broeksmit’s address highlighted the MBA’s substantial role in shaping a remarkable 10% of all legislation enacted by Congress this year, marking a testament to their effective advocacy and strategic influence.
MBA Achieves Major Legislative Wins, Enhancing Mortgage Industry Landscape
In his Monday address at the Annual Convention and Expo in Las Vegas, Mortgage Bankers Association President and CEO Bob Broeksmit heralded 2025 as a landmark year for the organization, citing critical legislative and regulatory successes. The MBA played a pivotal role in shaping approximately 10% of all congressional legislation passed this year, securing three major wins for the housing and mortgage sectors.
Key among these achievements is the Homebuyers Privacy Protection Act, a bipartisan effort that finally outlaws 'trigger leads'—the controversial practice of selling mortgage applicants' data to competing lenders. Broeksmit noted the two-year arduous journey to pass this bill, expressing his satisfaction at its successful enactment, which he announced with a definitive farewell to the practice.
Another significant victory was the VA Home Loan Program Reform Act. This legislation was crucial in preventing a potential foreclosure crisis for tens of thousands of veterans following the expiration of vital loan relief programs. Broeksmit emphasized the MBA's intensified efforts after the cancellation of the VA Servicing Purchase program (VASP) earlier in the year, which ultimately led to this vital reform.
Furthermore, a comprehensive tax-and-spending bill, signed by President Donald Trump in July, made permanent several provisions beneficial to both lenders and borrowers. These include the mortgage interest deduction, mortgage insurance premium deductions, and the 20% pass-through deduction, reinforcing stability and affordability in the housing market.
Beyond legislative engagements, Broeksmit highlighted the MBA’s close collaboration with the Trump administration to influence housing and financial regulations. This included efforts to reduce FHA multifamily insurance premiums and ongoing reforms to the CFPB’s Loan Officer Compensation Rule. The MBA also worked with the Federal Housing Finance Agency (FHFA) on credit score reforms and reporting requirements, advocating for the elimination of mandatory tri-merge credit reports to cut costs for borrowers.
Looking ahead, the MBA is deeply involved in discussions regarding the future of Fannie Mae and Freddie Mac, with Broeksmit vowing to ensure that any government-sponsored enterprise reform maintains affordable mortgage credit. He concluded his remarks by honoring outgoing MBA Chief Operating Officer Marcia Davies, recognizing her three decades of service and her impactful founding of mPower, a network dedicated to supporting women in the mortgage industry. Broeksmit praised Davies' courageous leadership and described her influence as a significant 'movement,' acknowledging her retirement as both a historic and somber moment for the organization.
The Mortgage Bankers Association's recent legislative victories underscore the critical importance of persistent advocacy in shaping public policy. By actively engaging with lawmakers and administrative bodies, the MBA has not only secured tangible benefits for the mortgage industry and consumers but also set a precedent for how focused, sustained effort can lead to meaningful change. These achievements serve as a powerful reminder that collaboration and strategic influence are essential for fostering a stable and accessible housing market, ultimately benefiting countless individuals and families seeking homeownership.
