HousingWire Daily Matt VanFossen on the new sheriffs in town: state regulators
18 snips
Oct 23, 2025 In a captivating discussion, Matt VanFossen, CEO of Absolute Home Mortgage and chair of the MBA's State Legislative Regulatory Committee, dives into the surge of state-level mortgage regulations. He elaborates on over 200 new AI bills and the necessity for thoughtful safeguards in technology. VanFossen also highlights the challenges posed by 'zombie mortgages' and the evolving Community Reinvestment Act in the Northeast. He emphasizes the urgency for loan officers to engage locally and the importance of adapting legislation to keep pace with advancements in the industry.
AI Snips
Chapters
Transcript
Episode notes
State Regulators Are Rising
- State regulators are filling regulatory gaps as federal oversight shrinks, driving a surge in state-level mortgage rules.
- Matt VanFossen warns this shift makes state engagement essential for lenders and mortgage professionals.
AI Bills Can Break Existing Automation
- Over 200 state AI-related bills were attempted last year, with some states racing to pass laws without full understanding.
- VanFossen cautions broad AI bans or opt-outs can unintentionally cripple common mortgage automation and servicing tools.
Push For Practical AI Off-Ramps
- Educate legislators and regulators on practical AI uses and push for consumer-facing off-ramps, not blanket bans.
- Ensure transparency and clear human-assistance options where conversational bots are used.