"The privacy protection law bans trigger leads, a long-criticized practice that allows mortgage applicants' data to be sold to competing lenders. Broeksmit reflected on the grueling process of working on the trigger leads bill for two years and getting it to pass in bipartisan measures. He officially bid adieu to trigger leads during his remarks. The VA reform law, Broeksmit shared, averted a potential foreclosure crisis for tens of thousands of veterans after key loan relief programs expired."
"Finally, the tax legislation made permanent the mortgage interest deduction, mortgage insurance premium deductions and the 20% pass-through deduction, among other provisions benefiting lenders and borrowers, Broeksmit added. Beyond meeting with members of Congress including House Speaker Mike Johnson, Sen. Mark Warner and other top lawmakers, Broeksmit said the MBA has worked closely with the Trump administration to shape housing and financial regulation, specifically reducing FHA multifamily insurance premiums and pending reforms to the CFPB's Loan Officer Compensation Rule."
Trigger leads are banned, ending the sale of mortgage applicants' data to competing lenders after a bipartisan legislative effort. The VA reform law averted a potential foreclosure crisis for tens of thousands of veterans after key loan relief programs expired, and intensified efforts followed cancellation of the VA Servicing Purchase program (VASP). Tax legislation permanently preserved the mortgage interest deduction, mortgage insurance premium deductions, and the 20% pass-through deduction. The MBA engaged with Congress and the administration on housing and financial regulation, pursued FHA premium reductions, CFPB loan officer compensation reforms, FHFA credit score and reporting changes, and honored retiring COO Marcia Davies.
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