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Advocacy
OMBA Advocacy Updates
Empowering Ohio’s Mortgage Industry Through Legislative Engagement
At the Ohio Mortgage Bankers Association (OMBA), we are committed to representing your voice at the federal and state levels. Through strategic partnerships with the Mortgage Bankers Association (MBA) and active member participation, we champion policies that protect and grow the real estate finance industry.
Below are recent highlights from national advocacy efforts and how they impact you here in Ohio.
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Federal Advocacy Highlights – August 2025
✅ Credit Score Modernization & VA Loan Reform Become Law
MBA President & CEO Bob Broeksmit, CMB, celebrated two major victories:
• Credit Score Modernization: A collaborative effort with FHFA and GSEs is modernizing how credit scores are used in mortgage underwriting.
• VA Home Loan Program Reform Act Signed: Signed into law by President Trump, this new legislation enhances the VA home loan program for lenders and veterans alike.
Read more from Bob Broeksmit
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Federal Reserve Holds Rates Steady
The Fed kept the federal funds rate at 4.25–4.50%, citing concerns about inflation.
What it means for you: Mortgage rates may remain high in the short term, with MBA forecasting only a modest decline to 6.5% over the next year.
“The Fed’s moves likely won’t bring immediate relief to mortgage rates.” – Mike Fratantoni, MBA Chief Economist
Full commentary
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Senate Unanimously Passes Bipartisan “ROAD to Housing” Act
The Renewing Opportunity to the American Dream (ROAD) to Housing Act passed 24–0 in the Senate Banking Committee.
This sweeping legislation aims to:
• Expand housing supply
• Make homeownership and renting more affordable
• Streamline federal housing programs
MBA is actively engaged to refine provisions on:
• Lender liability
• Second appraisals
• Rural Housing Service reforms
Ohio Impact: The act includes rural housing reforms and ADU financing tools that could benefit many Ohio communities.
Section-by-section breakdown
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Budget Battles: HUD Appropriations for FY 2026
House and Senate committees are advancing different funding levels for HUD:
• Senate: $73.3B for HUD
• House: $67.7B
Both propose:
• $400B FHA loan guarantee authority
• $550B Ginnie Mae commitment authority
The Senate added study requirements on the impact of rising insurance premiums on affordable housing and nonbank servicer risk mitigation.
What’s at stake: IT upgrades, housing counseling funding, and condominium safety standards could all be impacted.
MBA’s HUD funding letter
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Treasury Nomination Could Shift Regulatory Focus
Jonathan McKernan advanced toward confirmation as Treasury Undersecretary for Domestic Finance.
Why it matters: McKernan will influence policy around GSE oversight, financial regulation, and municipal debt markets—key areas for lenders and servicers.
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Clarifying VA’s PPM Certification Rules
MBA submitted a letter to the VA recommending changes to Program Participant Management (PPM) certification to reduce compliance burdens and better align with the VA Lender Handbook.
Why it matters: These changes could reduce risks and streamline operations for lenders serving veterans.
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Condo Lending Summit: Solutions in Motion
MBA hosted its 9th annual Condo Lending Summit, engaging with FHA, VA, GSEs, and industry experts to resolve barriers in condominium financing.
Topics included:
• Project insurance standards
• Critical repairs framework
• Fannie Mae’s “Unavailable List”
• Veteran borrower access
Next Steps: MBA will push for updates to the GSEs’ Critical Repairs guidelines.
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Upcoming MBA Webinars – FREE for MBA Members
Stay sharp on the latest trends and policies. Register for these upcoming sessions:
Date Webinar
Aug 6 Combating Mortgage Fraud
Aug 12 DSCR Loan Training
Aug 13 Freddie Mac Income Calculator
Aug 19 Social Media for Execs
Aug 26 Bank Statement Loans
Aug 27 Reverse Mortgages
Sept 3 Mortgage Banker Performance Metrics
Register here
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Your Voice Matters
OMBA encourages all members to stay engaged. Legislative victories are only possible with strong, united advocacy. If you’re interested in:
• Writing to your elected officials
• Joining an advocacy committee
• Attending Mortgage Action Alliance events
Reach out to us at info@ohiomba.org or subscribe below!