The Mortgage Bankers Association (MBA) is responding to the Office of Management and Budget's (OMB) request for comments on deregulation by targeting several key rules from the Trump administration. Significant changes include freezing the CFPB's enforcement actions regarding nonbank financial entities, reconsidering energy efficiency rules by HUD, and seeking modifications to FHA policies. The MBA's concerns center around the potential increased costs and liability issues surrounding current regulations, indicating a pressing need for reevaluation and alteration to foster a more conducive regulatory environment for the mortgage industry.
The MBA's response emphasizes the need to roll back certain regulatory measures it believes hamper the efficiency and cost-effectiveness of the mortgage industry.
MBA's lobbying against HUD's energy standards reflects broader concerns about the regulatory burden increasing operational costs for new construction projects.
The opposition to the disparate impact rule highlights the trade group's worry about unnecessary liability risks associated with Fair Housing regulations.
MBA contends that FHA's claims curtailment policies significantly elevate servicing costs for nonperforming loans, necessitating urgent policy revisions to alleviate financial pressure.
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