Hi, I’m Adam DeSanctis with the Mortgage Minute, the latest news from the Mortgage Bankers Association. The somewhat quiet August in Washington is about to come to an end with the House back in session this week and the Senate returning next week after Labor Day. That means a busy fall is ahead on Capitol Hill. But even during the August slowdown, MBA and our state partners have been hard at work, and we just had a significant victory in California. After months of coordinated advocacy with the California MBA and other industry partners, AB eight oh one has now passed both chambers of the California legislature. Importantly, this bill looks very different from where it started. Rather than imposing new Community Reinvestment Act requirements on independent mortgage banks, credit unions, and state-chartered banks, the legislation now establishes a regular four-year cycle for fair lending examinations already authorized under state law. It also allows California’s regulator to accept comparable state or federal exams, avoiding unnecessary duplication, and ensures fair lending examination reports receive the same confidentiality protections as other IMB exam reports. The bill now heads to Governor Gavin Newsom, and MBA, California MBA, and others will remain engaged as we continue fighting for policies that expand access to affordable, sustainable mortgage credit without costly and ineffective CRA-style mandates. That’s it for this week. Thank you for listening.
Adam DeSanctis, VP, Communications at Mortgage Bankers Association
As a strategic public affairs and communications executive with nearly two decades of experience, Adam has deep expertise in strategy, management, and media relations. He is widely regarded as an expert in a variety of communications, including advocacy, brand, executive, crisis, grassroots, and social media. In his career, he has been the MBA spokesperson on a wide variety of real estate research and advocacy-related issues, promoted MBA research and advocacy efforts to financial, political, and trade industry media and on MBA’s social media channels, and secured media opportunities for MBA leadership on key real estate trends and issues, generated media coverage for MBA’s research and data on mortgage applications, credit availability, homebuilder applications, mortgage forbearance/delinquencies, commercial real estate originations, and forecasts, and other industry analysis, developed key strategic initiatives for MBA’s organizational public affairs plan, media relations and member communications support for mPower, MBA’s Opens Doors Foundation and MBA’s Diversity, Equity, and Inclusion programs.