New Mortgage Broker Leadership to Take Office October 1

The National Association of Mortgage Brokers will appoint a new president to represent industry interests during upcoming housing policy changes.

Updated on Sept. 30, 2026 in Residential

Bold flat-color editorial illustration of a brass house-shaped key on a dark surface, symbolizing housing policy and industry leadership change. — Michael Farrell will lead the National Association of Mortgage Brokers starting October 1, overseeing industry efforts during upcoming federal housing policy reviews. AI Illustration. Upload story photo >

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Michael Farrell will officially assume the presidency of the National Association of Mortgage Brokers on October 1, 2026. This leadership shift occurs as the industry prepares for new regulatory requirements established by the recently enacted 21st Century ROAD to Housing Act.

Why it matters

The organization represents the interests of 533,500 loan originators and 47,800 brokerage firms during legislative debates on Capitol Hill. Farrell's leadership will guide the group as it navigates a federally mandated review of mortgage compensation rules.

The National Association of Mortgage Brokers serves as a liaison for 533,500 loan originators and 47,800 mortgage firms. The organization now faces a 270-day deadline for the Consumer Financial Protection Bureau to submit a report on loan originator compensation to Congress.

The players

Michael Farrell

The incoming president of the National Association of Mortgage Brokers who will lead the group for 365 days.

National Association of Mortgage Brokers

A nonprofit advocacy organization that represents the professional interests of mortgage brokers and loan originators.

Consumer Financial Protection Bureau

The federal agency responsible for enforcing consumer protection laws and regulating loan originator compensation.

Brian Johnson

A nominee for director of the Consumer Financial Protection Bureau currently moving through the Senate committee process.

Lauren Patterson

The incoming president-elect who will be installed during the association's annual national conference.

The details

The association advocates for brokers during federal regulatory shifts, particularly following the passage of the 140-page, 60-section 21st Century ROAD to Housing Act. As president, Farrell will oversee the organization's engagement with the Consumer Financial Protection Bureau as it re-evaluates compensation rules originally codified in 2013.

1973: The National Association of Mortgage Brokers was founded.
2013: The Consumer Financial Protection Bureau codified loan originator compensation rules.
July 11, 2026: The 21st Century ROAD to Housing Act became law.
October 1, 2026: Michael Farrell officially assumes the presidency.
October 16-19, 2026: The NAMB National conference takes place in Las Vegas.

Money Landscape

The transition occurs against the backdrop of the 21st Century ROAD to Housing Act, which recently introduced new legislative mandates for the mortgage sector. This development follows a historical pattern where broker associations reorganize to address significant federal policy updates.

As new compensation regulations are reviewed under the 21st Century ROAD to Housing Act, homeowners should stay informed about potential changes to mortgage origination fee structures. Consult with a licensed financial professional to understand how shifts in industry-wide rules may affect future loan costs.

The takeaway

The mortgage industry is entering a period of regulatory review that may reshape how loan originators are compensated. Homebuyers should monitor updates regarding these federal compensation rules, as they may eventually influence the transparency of mortgage closing costs.