OMBA members Ashley Yarabenic, Tammy Golden, and Kirk Faulkner recently attended the Mortgage Bankers Association (MBA) National Advocacy Conference (NAC) in Washington, D.C., representing both Oregon and Washington.

The NAC is MBA’s premier annual event dedicated exclusively to federal advocacy for the real estate finance industry. It brings together professionals from across the mortgage sector for direct engagement with policymakers—offering a critical opportunity to shape legislation that impacts housing finance nationwide.

As part of their advocacy efforts, they met with legislative staff from the offices of Representative Maxine Dexter (Emily Hentschke), Congressman Cliff Bentz, U.S. Senators Jeff Merkley and Ron Wyden of Oregon, as well as representatives from the offices of Senators Maria Cantwell and Marie Gluesenkamp Perez of Washington.

Topics discussed included:

• Trigger Leads (Homebuyer Privacy Protection Act):
• Bipartisan support; the bill was reintroduced immediately following the conference. It shows how important presence in the capital can move legislation.
• Legislators receptive, acknowledging consumer protections against unethical lender practices.
• Commitment requested from legislators; most agreed or deferred until reviewing full bill details.

• VA Home Loan Servicing Standards (Partial Claims Program):
• Advocated for introduction of partial claims to prevent veteran foreclosures.
• Emphasized fairness, alignment with other federal programs (FHA, USDA, Fannie Mae, Freddie Mac).
• Legislative staff expressed significant interest; follow-up commitments made to provide additional information.

• GSE Reform and Responsible Release:
• Highlighted need for transparent reform and explicit federal backstop for mortgage-backed securities.
• MBA board-level task force defining post-conservatorship future of Fannie Mae, Freddie Mac.
• Expected to become significant legislative agenda by 2025; MBA positioned as influential stakeholder.

• Tax Policies Supporting Real Estate Finance:

• Reinstatement and permanence of MI Premium Deduction to support borrower affordability.
• Preservation of deferred taxation on Mortgage Servicing Rights (MSRs).
• Proposed doubling of Capital Gains Tax exclusions to incentivize housing turnover and affordability.
• Support for making Section 199A pass-through deduction permanent, critical for small business lenders.

• Opportunity Zones & USDA Reform:
• Advocated for making USDA loans assumable to enhance housing affordability in rural communities.

OMBA is proud to continue supporting policies that promote a stable, sustainable, and accessible housing market for all.