The Obama administration, like most before it, sprinted out of the gate during its first three months in office, announcing significant new programs, signing major legislation and outlining its plans for the future. Unlike previous administrations, however, many of these efforts have been squarely focused on or have deeply impacted the real estate finance industry. In response, the Mortgage Bankers Association (MBA) has kept pace throughout the three-month period, testifying seven times before Congress--including three times in person; issuing seven comment letters on a variety of regulatory issues; and sending more than 26 separate letters to either members of Congress or administration officials. As a result of this frenzied pace, new programs that were traditionally proposed, debated and refined over a period of several months, if not years, are now newly conceived of and launched within weeks.
