With the November elections set to impact future policies and laws affecting real estate and housing finance professionals, one of the biggest trade groups advocating mortgage lenders, the Mortgage Bankers Association, is heading for a very busy stretch.
The Tax Cuts and Jobs Act, a major achievement for former president Trump in 2017, is set to lapse in 2025. What happens with that going forward will determine the future of both housing and business tax incentives, said the MBA's Senior Vice President for Legislative and Political Affairs, Bill Killmer.
"We're going to be strongly playing defense for real estate and business provisions to make sure that those aren't utilized as 'pay-fors'," he said, referring to policies that could be chopped in budget-balancing decisions.
Bill Killmer, senior vice president for legislative and political affairs.
Courtesy of Mortgage Bankers Association
The MBA in April signed on to a letter with 22 other real estate trade groups, backing measures to address production and affordability while urging rejection of policies tacking on taxes to housing providers.
A trigger leads bill meanwhile carries bipartisan support but has yet to reach the president's desk, while a law curbing investor purchases of single-family homes appears less likely to develop. Killmer spoke to National Mortgage News about the policies of interest to the mortgage industry, up for discussion for an incoming Congress and Oval Office.
