Hi, I’m Adam DeSanctis. This is the Mortgage Minute, the latest news from the Mortgage Bankers Association. Following months of negotiations between senators on many individual housing related measures, the full Senate Banking Committee last week passed the Road to Housing Act by a bipartisan vote of 24 to 0. The legislation contains numerous bills and legislative texts from each of the banking committee’s members, as well as some off committee senators. It seeks to expand and preserve housing supply, improve a housing affordability and access, and bolster the oversight of major federal housing programs. MBA believes this housing package will help make a housing more affordable and available to households in both urban and rural communities across America. Many of the Bills provisions will help to boost housing supply for both owning and renting streamlined federal housing program offerings, and importantly make small dollar mortgage lending more available to consumers. It’s also important to highlight that legislation that advances at the committee level by a 24-0 vote very often passes at least one House of Congress, if not eventually becoming law, MBA will continue working with banking committee chair Tim Scott, ranking member Elizabeth Warren and their staffs to attempt to refine, improve some aspects of the bill including the bill’s, lender liability, second appraisal, and rural housing service reform provisions prior to the road to housing acts. Floor consideration by the full Senate. Likely in the coming months. 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.