MBA CEO Bob Broeksmit on federal housing policy updates

Bob Broeksmit, President and CEO of the Mortgage Bankers Association, provides an update on housing policies under consideration in D.C. and their potential impact on borrowers. They address MBA's recommendations to reduce borrower costs, including restructuring FHA mortgage insurance premiums, reducing GSE loan level price adjustments, and modernizing credit report requirements. Broeksmit expresses concerns about the 21st Century Road to Housing Act, particularly provisions that could limit institutional investment in build-to-rent communities, potentially worsening the housing supply crisis. He also touches on Basel III, welcoming improvements in the latest proposal while suggesting further refinements to risk weights for mortgage servicing and warehouse lending. The conversation highlights the need to reassess regulations and ensure they align with current risk levels in the mortgage market.