Mortgage leaders have their regulation wish list ready for the Trump administration and a Republican-dominated Congress.
Their agenda includes calls to reverse or walk back Biden-era rules and proposals that could hinder opportunities for homeownership or hurt industry players themselves. Other trade group efforts will focus on longstanding regulations like the loan officer compensation rule, or legislation like the Real Estate Settlement Procedures Act.
The president-elect is expected to usher in an era of deregulation, although how that will extend to housing remains uncertain. Trump has made just one nomination to a housing post, and despite outside noise has been mum on the Consumer Financial Protection Bureau. Amid the pre-inauguration uncertainty, experts are optimistic for future productive dialogue with the incoming government.
“I take the rhetoric at face value that they’re very concerned both with reducing ineffective or duplicative regulation and also unlocking more housing affordability and housing supply,” said Justin Wiseman, vice president for residential policy and managing regulatory counsel for the Mortgage Bankers Association.
National Mortgage News spoke with industry trade groups regarding what suggestions they’ll have for the incoming administration and legislators.
