Hi, I’m Adam DeSanctis. This is The Mortgage Minute, the latest news from the Mortgage Bankers Association. It’s been a busy summer so far in Washington and MBA secured another significant advocacy win for its members and the industry. Last week, the US Senate passed a VA Home Loan Program Reform Act. The bill, which passed the US House of Representatives in May, now heads to President Donald Trump for his signature and enactment importantly. The Bill Reinstates, the authority for the VA to offer partial claims aligning the VA home loan program loss mitigation options to those offered to borrowers with FHA and Fannie Mae and Freddie Mac loans. Since the VA’s previous partial claim authority was sunset with other replacement nearly two years ago, MBA has worked closely with the VA lawmakers and our members to advocate for a permanent partial claim option that mirrors the successful programs offered by the other federal housing agencies. MBA will work with its members in the VA on a swift and seamless implementation. Congress may also look to make further changes to the VA home loan program by year end. We’ll keep you updated on any developments during the implementation period. Now. 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.