Resources
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MBA Letter to the FTC on Trade Regulation Rule on Unfair or Deceptive Fees
The Mortgage Bankers Association and its members appreciate the opportunity to offer comments on the Federal Trade Commission’s (FTC’s) Notice of Proposed Rulemaking regarding Unfair or Deceptive Fees. The MBA shares the FTC’s commitment to transparent pricing of consumer goods and services, but mortgage lending is already subject to comprehensive disclosure rules, known as Regulation Z, promulgated by the Consumer Financial Protection Bureau (CFPB) under the Truth in Lending Act (TILA), as well as a broad regulatory prohibition, in the CFPB’s Regulation N, on making misrepresentations in relation to a mortgage transaction.
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MBA Letter to FCC on Revocation of Consent under the Telephone Consumer Protect Act
The Mortgage Bankers Association and its members appreciate the opportunity to offer comments on the Federal Trade Commission’s (FTC’s) Notice of Proposed Rulemaking regarding Unfair or Deceptive Fees.2 The MBA shares the FTC’s commitment to transparent pricing of consumer goods and services, but mortgage lending is already subject to comprehensive disclosure rules, known as Regulation Z, promulgated by the Consumer Financial Protection Bureau (CFPB) under the Truth in Lending Act (TILA), as well as a broad regulatory prohibition, in the CFPB’s Regulation N, on making misrepresentations in relation to a mortgage transaction.
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MBA Joint Letter to Governor Hochul Supporting 421a Program
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MBA Letter on H.R. 7024 Floor Vote
Mortgage Bankers Association writes to express the staunch support for H.R. 7024, the “Tax Relief for American Families and Workers Act of 2024,” which is scheduled to be considered by the full U.S. House of Representatives under suspension of the rules today.
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MBA Joint Comment Letter in Support of H.R. 7024, the “Tax Relief for American Families and Workers Act of 2024”
The undersigned real estate trade associations write to express our strong support for H.R. 7024, The Tax Relief for American Families and Workers Act of 2024 (the “Act”). We urge you to vote in favor of this legislation when it is considered by the full House of Representatives. The bill, which the Committee on Ways and Means approved by an overwhelming bipartisan 40-3 vote on January 19, would increase the availability of Low-Income Housing Tax Credits (LIHTC) to spur the production of more critically needed affordable housing units, as well as suspend certain tax increases on business investment that took effect in 2022 and 2023. The passage of H.R. 7024 will help increase the supply of housing across the country and have a positive impact on the housing affordability crisis.
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MBA Letter to Congressional Leaders on H.R. 3335, the IRS eIVES Modernization and Anti-Fraud Act of 2023
As the leading organizations representing virtually all of the financial services industry, we write to share our concerns about recent policy changes announced by the Internal Revenue Service (IRS) regarding the Income Verification Express Service (IVES) and urge you to pass H.R. 3335, the IRS eIVES Modernization and Anti-Fraud Act of 2023 to ensure the IRS follows the original intent of Congress and prevents disruptions to the consumer and commercial lending industries.
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MBA Letter to HUD on Electronic Closing Protocols
On behalf of the MBA Closing Subcommittee, MBA writes with respect to the recently published Electronic Closing Protocols for certain HUD-insured multifamily and healthcare facility closings.
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MBA Comment Letter in Support of H.R. 7024, the “Tax Relief for American Families and Workers Act of 2024”
On behalf of the MBA, comments are offered to the real estate finance industry on the Amendment in the Nature of a Substitute (“AINS”) to the recently released text of H.R. 7024, the “Tax Relief for American Families and Workers Act of 2024,” the tax package negotiated by Chairman Smith and Senate Finance Committee Chairman Ron Wyden scheduled for markup in the House Ways and Means Committee on Friday.
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MBA Joint Comment Letter in Support of H.R. 7024, the “Tax Relief for American Families and Workers Act of 2024”
The undersigned 88 leading national and statewide affordable housing and community development organizations strongly support the investment in critically needed affordable housing supply in the bipartisan, bicameral Tax Relief for American Families and Workers Act you jointly released on January 16 and urge you to work with Senate and House leadership to enact this legislation with the housing provisions included as soon as possible.
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MBA Letter on the revised MAP Guide Chapter Six
MBA is writing to express support for the publication of the revised MAP Guide Chapter Six that was submitted to Multifamily Production leadership last week by Kevin Han, Office of Multifamily Production Technical Support Division. This revision is the result of an 18-month consensus-based revision process involving HUD, MAP lender stakeholders, and third-party industry experts (the “task force”). The revisions provide more explicit written guidance to all participants, addressing several questions and comments that have come up since the issuance of the 2020 MAP Guide. Additionally, the updated chapter provides a resiliency path to Green MIP for affordable and market rate properties, similar to how the Green and Resilient Retrofit Program (GRRP) provides a resiliency path to improve the energy-efficiency for Section 8 and Public Housing multifamily properties.
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MBA Joint Trade Letter to Congress on IRS eIVES Modernization and Anti-Fraud Act of 2023
As the leading organizations representing virtually all of the financial services industry, we write to share our concerns about recent policy changes announced by the Internal Revenue Service (IRS) regarding the Income Verification Express Service (IVES) and urge you to pass H.R. 3335, the IRS eIVES Modernization and Anti-Fraud Act of 2023 to ensure the IRS follows the original intent of Congress and prevents disruptions to the consumer and commercial lending industries.
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MBA Joint Letter with CRE Trades on Basel III Endgame
We write today to express concerns that the Basel III Endgame Capital Notice of Proposed Rulemaking (“Proposal”) could have a significant negative impact on the availability of credit for commercial and multifamily real estate.
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MBA Comment Letter on the Banking Agencies’ Basel III Endgame NPR
The Mortgage Bankers Association (MBA) appreciates the opportunity to comment on the notice of proposed rulemaking (NPR) issued by the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC) and the Board of the Governors of the Federal Reserve System (the Board) (jointly, “the Agencies”). The NPR is intended to implement the final components of the Basel III standards to which the U.S. banking system has been gradually transitioning over many years.
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MBA Joint Comment Letter on the Banking Agencies’ Basel III Endgame NPR (Impacts on CRT)
The undersigned housing organizations, are united in our concern that the Basel III Endgame proposed rule, as currently drafted, will cause unintended harm to home loan borrowers by significantly increasing overall required capital and risk weights for mortgage assets held in portfolio by banks. To address this, in addition to other recommendations we may independently and separately make, we ask that your agencies modify your risk-based capital regulations so that it is clear banks can use reinsurance credit risk transfer (CRT) for risk mitigation and receive capital relief for using it.
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MBA Joint Trade Letter on Basel III Recommendations
The undersigned organizations appreciate the opportunity to comment on the notice of proposed rulemaking (NPR) issued by the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC) and the Board of the Governors of the Federal Reserve System (the Board) (jointly, “the Agencies”) to implement the final components of the Basel III standards to which the U.S. banking system has been gradually transitioning over many years.
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MBA Letter to HUD on FHA 203(k) Rehabilitation Mortgage Insurance Program
The Mortgage Bankers Association appreciates the opportunity to provide feedback on the Federal Housing Administration's (FHA) proposed modifications to the FHA 203(k) Rehabilitation Mortgage Insurance Program (203(k) Program). We commend the FHA for its steadfast dedication to addressing the nation's housing affordability challenges, primarily driven by the critically low housing supply.
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MBA Joint Letter to California Privacy Protection Agency on Automated Decision Technology Regulations
The California Mortgage Bankers Association, the Mortgage Bankers Association, the California Bankers Association, and the California Credit Union League, representing the real estate finance industry, appreciates the opportunity to preliminarily comment on the draft regulations noticed on the agenda and discussed at the December 8, 2023, meeting of the California Privacy Protection Agency Board. We look forward to providing more comprehensive comments as the rulemaking process progresses.
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MBA Comment Letter on Rural Housing Service’s Proposed Insurance Regulation
The undersigned organizations representing participants in the affordable and conventional multifamily housing industry, including owners, developers, managers, and lenders are pleased to submit comments on the proposed rule entitled “Insurance Requirements in Multi-Family Housing Direct Loan and Grant Programs” issued by the Rural Housing Service (“RHS”) on October 25, 2023 (the “Proposed Rule”). Members of the undersigned organizations work closely with RHS to ensure that the residents of affordable rural housing live in safe and sanitary housing that is adequately protected by insurance policies that make sense and offer good value to allow the owners to operate the properties.
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MBA Comment Letter to CFPB on Section 1033
MBA Comment Letter to CFPB on Section 1033
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MBA Letter to CFPB on Transparency About Credit Report Pricing Increases
The Mortgage Bankers Association (MBA) is writing to the Consumer Financial Protection Bureau’s (Bureau or CFPB) Office of Research, Monitoring, and Regulations in light of public reports about the recent increased costs of the tri-merge credit reports and other credit reporting products, some of which are required to originate a loan for sale to the GSEs and for government-insured loans.