In a political landscape that has become surprisingly unpredictable, the mortgage and real estate finance industry finds itself navigating uncharted waters. As a new administration takes the helm, industry leaders and political analysts are scrambling to decipher the implications of a dramatic power shift that has left many long-held assumptions in tatters.

"We're now living in a Republican trifecta, and we need to be prepared for any outcome," declared Bill Killmer, senior vice president of legislative and political affairs at the Mortgage Bankers Association (MBA). This stark assessment set the tone for a discussion at the recent MBA CREF 2025 event, where industry insiders grappled with the realities of a political upheaval that few had anticipated.

The surprise of the election results was palpable among the panelists. Megan Booth, VP of CREF policy at MBA, admitted to being caught off guard: "When considering different scenarios, I predicted a 75% chance of a split government but was surprised by the overwhelming one-sided outcome". This sentiment was echoed by her colleagues, who had largely expected a more divided government to emerge from the electoral fray.