Broeksmit outlines next steps as MBA ramps up advocacy efforts

Bob Broeksmit, president and CEO of the Mortgage Bankers Association (MBA), called on industry members to intensify advocacy efforts on Capitol Hill, outlining a series of next steps as lawmakers weigh key housing and financial policy changes.

Speaking at the MBA‘s National Advocacy Conference on Tuesday in Washington, D.C., Broeksmit said that while this year’s conference involves less uncertainty than last year’s — which was marked by “DOGE cuts,” “Liberation Day” tariffs and a possible global trade war — the association’s advocacy work is far from finished.

Broeksmit reminded the audience about the trade group’s advocacy wins in 2025 and urged members to press Congress to address provisions in the 21st Century ROAD to Housing Act.

“The Senate‘s package, taken as a whole, has the potential to meaningfully improve housing supplies and affordability,” Broeksmit said. “It is rare to see unanimous bipartisan agreement on major legislation, an indication that elected officials clearly recognize voter concerns about rising housing costs and limited availability.”

But Broeksmit added that MBA has “several concerns that must be addressed.” This includes a “drafting error related to Federal Housing Administration (FHA) multifamily loan limits, which would have the effect of lowering them [and] second, a single-family housing investor ban that would ironically restrict the flow of capital into rental housing.”

Broeksmit said the MBA, due to its concerns regarding the potential ban on institutional investors, met with Treasury Secretary Scott Bessent in February and addressed its concerns. Bessent reportedly told Broeksmit that the proposal to ban certain institutional investors in the single-family housing market gained significant traction after polling showed it resonated strongly with the public.

That signal, Broeksmit told his audience, prompted the MBA to assemble a coalition to mitigate potential unintended consequences, particularly for multifamily housing.

“The last thing that we have a real issue with on the ROAD to Housing (Act) is a proposal to divert funds from the FHA Mutual Mortgage Insurance Fund to support foreclosure counseling, not only for FHA borrowers, but for U.S. Department of Veterans Affairs (VA) borrowers and U.S. Department of Agriculture (USDA) borrowers, something that should occur through the normal appropriations process,” Broeksmit said.

An overhaul to credit reporting requirements remains a central priority for the MBA. Broeksmit said the group will continue pushing policymakers to eliminate the tri-merge credit report mandate, arguing that it reduces competition and increases borrowing costs.

“Our goal is to fix the underlying problem, which is a lack of competition in a safe, data-driven manner,” he said, adding that members should advocate for “timely action” from regulators and lawmakers.

On bank capital standards, the MBA plans to submit formal comments on the latest Basel III proposal released by federal regulators, while continuing to push for reforms that better reflect mortgage risk and expand liquidity. Broeksmit said changes to capital treatment for mortgage servicing rights and warehouse lending would “benefit the entire market.”

The group is also engaging with federal agencies on regulatory reforms aimed at easing compliance burdens and expanding access to credit. Broeksmit said recent discussions between MBA’s Residential/Single Family Board of Governors (RESBOG) and the Consumer Financial Protection Bureau (CFPB) signaled openness to adjusting mortgage rules to better support lenders of all sizes.

“We need you to carry the message to Capitol Hill that MBA will work with the White House, federal agencies and industry stakeholders to ensure these reforms are effective, practical and beneficial,” he said.