Mortgage Bankers Association launches new program and pushes credit reform

At its annual convention in Chicago, the Mortgage Bankers Association (MBA) announced several initiatives aimed at industry professionals and regulatory reform. In partnership with FirstHome IQ, the MBA launched ‘Homebase,’ a professional development program designed for individual loan officers. Unlike previous institutional-focused efforts, Homebase is available to producers regardless of whether their employer is an MBA member, offering continuing education, coaching, and advocacy access.

Simultaneously, the MBA is advocating for significant changes to credit reporting requirements. MBA President and CEO Bob Broeksmit signaled that the traditional requirement for tri-merge credit reports—which pull data from three major bureaus—may soon be replaced. This shift toward bi-merge or single-pull options aims to reduce compliance costs and lender expenses. The Federal Housing Finance Agency (FHFA) is reportedly studying these options to modernize the lending process for loans sold to Fannie Mae and Freddie Mac.