HousingWire Daily MBA CEO Bob Broeksmit on trigger leads and deregulation
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Jun 11, 2025 Bob Broeksmit, CEO of the Mortgage Bankers Association, shares his insights on the evolving landscape of the mortgage industry. He discusses the controversial trigger lead bill making its way through Congress and the implications of recent deregulation initiated under President Trump. Broeksmit emphasizes the importance of consumer protection and the need for clear regulatory rules to prevent confusion among borrowers. He also examines the future of Fannie Mae and Freddie Mac, highlighting their role in affordable housing.
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Trigger Leads Problem Explained
- Trigger leads cause consumers to be hounded by misleading solicitations after credit pulls for mortgages.
- Loan officers are falsely blamed for selling consumer data, creating reputational damage and consumer confusion.
Impact of Deregulation on Mortgage Industry
- Deregulatory actions by the current administration are easing the heavy regulation burden on mortgage lenders.
- This cumulative deregulation will significantly benefit the industry despite being overshadowed by other news.
Fannie and Freddie Post-Conservatorship
- The MBA insists post-conservatorship Fannie and Freddie must not increase home financing costs.
- An explicit Congressional guarantee for GSE mortgage-backed securities is essential for safety and soundness.