The Mortgage Bankers Association is starting the year with two new committee chairs, both active directors who will help lead the trade group’s political lobbying efforts across the country. 

The Washington-based trade group named attorney Nanci Weissgold as chair of the Mortgage Bankers Association Political Action Committee, or MORPAC, which aims to boost fundraising and support for federally elected officials on both sides of the aisle who support the lending industry’s concerns. 

The association also named home finance veteran Bill Nelson to chair the Mortgage Action Alliance, tasked with working on legislative priorities across the country in state and local governments, as well as Washington, D.C.

Both Weissgold and Nelson have long contributed to political advocacy for the mortgage industry and are members of MBA’s board of directors. They will serve in their respective chairships through the 2025-2026 election cycle.

“Nanci is an acknowledged financial services and housing policy expert who has been a steadfast supporter of MORPAC and of policies that strengthen our industry,” said Laura Escobar, current MBA chair and CEO of Lennar Mortgage.

Weissgold is presently a partner at law firm Alston & Bird and co-chair of its financial services group. She also serves as a fellow with the American College of Consumer Financial Services Lawyers. Her work for MORPAC brought a noticeable increase in participation among MBA associate members, the trade group said. In addition to her work for MORPAC, Weissgold is co-chair of MBA’s legal issues and regulatory compliance committee. 

At its annual convention in October last year, the Mortgage Bankers Association presented Weissgold its Schumacher-Bolduc Award, given to individuals who exemplify MORPAC’s mission and expand MBA’s political advocacy efforts. She succeeds current MBA vice chair Owen Lee in the MORPAC leadership role. Lee headed the committee the last two years.  

Nelson, a mortgage operations executive who has worked for both lenders and the government-sponsored enterprises, is also a member of several other MBA committees in addition to serving on the board. Nelson takes over from Eric Gates, the former chief operating officer at Luminate Home Loans as chair of the MAA committee.  

“Bill has been a dedicated and passionate supporter of MBA’s advocacy initiatives and programs, including MORPAC, and his example as an engaged MBA member has already helped to advance MAA’s grassroots efforts,” Escobar added. 

Currently Nelson holds the position of executive vice president, secondary and mortgage operations at New Orleans-based Standard Mortgage Corp. He began his career as a trader at Fannie Mae, before moving to its repo desk and then helping introduce the delegated underwriting and servicing business in its multifamily operations. 

Topping the list of 2025 political priorities for many lenders is legislation to curb trigger leads their customers are inundated with following a credit pull. Proposals to address the concern consistently draw bipartisan congressional support, but efforts to address the issue failed to pass last year. 

Also of industry concern on the federal level is the Tax Cuts and Jobs Act, passed in the first Trump administration and set to expire this year. Failure to renew TCJA would prove costly to the mortgage industry, MBA said, but an incoming Republican administration virtually guarantees passage in some form. 

In the past, the trade group has called for the examination and easing of capital regulations that drive up costs for borrowers and lenders. On multiple occasions in 2024, MBA President and CEO Bob Broeksmit also advocated for a national housing policy director that could help the mortgage industry navigate the maze of rules it must follow.