Advocacy

CREFC Government Relations: Shaping Our Industry

CREFC’s Government Relations team serves as the primary interface between the CRE Finance industry and policymakers. Through a collaborative process with our members, CREFC engages with legislators, regulators, and other policy stakeholders to advocate for policies that promote the interests of our membership and the broader industry.

By joining a CREFC Forum, members are able to participate in the creation of official policy positions and will gain access to regular updates from our Government Relations team on the latest regulatory developments.

View our recent policy wins and sign up for a CREFC Forum below to join our advocacy efforts and make a difference in the direction of our industry. Please contact David McCarthy with any questions.

The First 100 Days

CREFC's Government Relations Team is closely monitoring key legislative and regulatory developments shaping the commercial real estate finance industry. Explore our First 100 Days: Legislative Update and First 100 Days: Regulatory Update for insights into the evolving policy landscape.

  • First 100 Days: Legislative Update (1/28/25)
  • First 100 Days: Regulatory Update (1/28/25)


    • Election 2024 Outcome Analysis: Implications for CRE and Multifamily Finance

    The 2024 election results are in, and CREFC has prepared an in-depth Election 2024 Outcome Analysis to explore how the outcomes will shape policy in 2025 and beyond. This comprehensive analysis examines key issues in the commercial and multifamily real estate finance industry, providing insights into the potential legislative and regulatory landscape.

    While members of CREFC's Government Relations team do not forecast election results, our goal remains to dig deeper into the factors that influence critical areas of legislation and regulation.

    Outcome Analysis:
  • CREFC Election 2024 Outcome Analysis (11/18/24)

    • Scenario Analyses:
  • CREFC Election 2024 Scenario Analysis (10/28/24)
  • CREFC Election 2024 Scenario Analysis (10/22/24)
  • CREFC Election 2024 Scenario Analysis (10/8/24)


    • Recent Policy Developments (as of Q3 2024)
    Basel Endgame Advocacy
    The federal banking regulators plan to repropose the Basel Endgame Capital rules with significant changes. CREFC had submitted comments and coordinated a real estate industry letter on proposed rules and is waiting for the re-proposal to see the extent to which our comments were taken into consideration. CREFC plans to continue advocacy as needed following the release of the re-proposal.

    Tax Policy Working Group
    Convened a group of member experts on tax to analyze and triage key tax priorities ahead of 2025. With the expiration of key provisions in the 2017 Tax Cuts and Jobs Act, Congress is expected to take up a tax bill next year. CREFC will engage with lawmakers and staff on key tax issues through the end in preparation the tax push early next year. 

    15c2-11 No Action Letter Expiration
    CREFC is engaging with CMBS broker dealers on the upcoming application of 15c2-11 public data requirements for conduit CMBS. While CREFC and other trades successfully exempted 144A bonds from the public disclosure requirements, the public CMBS requirements are scheduled to come online in January 2025. CREFC will follow up with the SEC and/or on Capitol Hill as necessary. 

    Conflicts of Interest Rule
    Successfully advocated for narrowing the overly broad scope of the SEC’s Conflicts of Interest in Securitizations rule to target conflicted transactions and relevant parties more appropriately. CREFC partnered with other organization on an implementation toolkit.

     

     

    Latest News

    News

    CREFC announces Test

    July 2, 2025

     

    CREFC Announces new TEST

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    Contact: Maria Jones

    Contact 

    Maria Jones 

    CREFC

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    News Archive

    The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2025 CRE Finance Council. All rights reserved.
    CREFC announces TEST
    July 2, 2025
    CREFC announces TEST
    More info...

    News

    First 100 Days: Cabinet Nominee Update

    February 4, 2025

    President Donald Trump’s cabinet nominees are in various stages of the confirmation process with nine officials confirmed by the Senate in the last week and others awaiting a Senate vote or confirmation by committee.

    A comprehensive tracker of President Trumps’ entire slate of cabinet nominees can be found here.

    Confirmed Cabinet Nominees

    Voted Out of Committee, Awaiting Full Senate Vote

    The following cabinet nominees have yet to be confirmed by the full Senate. They have been voted out of committee, a sign that they are likely to be confirmed by the Republican-majority Senate.

    Click on each nominee’s name below to learn more about where they stand in the process and their background.


    Pending Confirmation by Committee

    The following nominees have not yet been voted out of their committee of jurisdiction.
    CREFC will continue to closely follow the cabinet nominee confirmation process.

    Contact James Montfort (jmontfort@crefc.org) with any questions.
     

    Contact 

    James Montfort
    Manager, Government Relations
    202.448.0857
    jmontfort@crefc.org

    News Archive

    The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2025 CRE Finance Council. All rights reserved.
    First 100 Days: Cabinet Nominee Update
    February 4, 2025
    President Donald Trump’s cabinet nominees are in various stages of the confirmation process with nine officials confirmed by the Senate in the last week and others awaiting a Senate vote or confirmation by committee.
    More info...

    News

    CREFC Launches Two New Committees to Strengthen Industry Advocacy and Legal Insight

    February 4, 2025

    CREFC is pleased to announce the formation of two new member-driven committees:

    • Advocacy Committee and 
    • Legal Advisory Council

    Both committees will enhance CREFC’s ability to navigate legislative and regulatory changes and provide critical industry guidance. 

    Why it matters: These new groups     will play a key role in helping CREFC respond to evolving legal, legislative, and policy developments under the new administration.

    The newly formed Advocacy Committee complements CREFC’s existing Policy Committee by broadening participation in discussions around legislative and regulatory developments.

    • This expanded engagement will allow more members, both Forum leadership and other industry stakeholders, to weigh in on critical policy issues.
    • With the new administration and Congress expected to introduce significant regulatory changes, including targeted deregulatory efforts, along with new legislation, the Advocacy Committee will serve as an essential platform for gathering industry input and shaping CREFC’s response.
    • The Advocacy Committee is open to all CREFC members.
    The Legal Advisory Council will bring together both internal and external counsel from CREFC’s diverse membership base. It will serve as a sounding board to quickly evaluate proposed regulatory changes and help determine those issues most important to CREFC and its members. 
     
    • By offering a legal perspective on a wide range of topics, the Council will ensure that CREFC’s advocacy efforts remain well-informed and strategically focused.
    • The Legal Advisory Council is open to all CREFC members who are attorneys (e.g., law firms, internal counsel).

    According to Lisa Pendergast, CREFC’s President and CEO:

    “These two new committees reflect our proactive approach to ensuring CREFC remains at the forefront of industry advocacy. By increasing member participation and leveraging expert legal insights, we are strengthening our ability to navigate regulatory shifts and effectively represent the interests of our industry.”
     
    Please contact Sairah Burki (sburki@crefc.org) and David McCarthy (dmccarthy@crefc.org) with any questions.
     
    If you would like to join either (or both) committees, please email Kaira Whitmore (kwhitmore@crefc.org).
     

    Contact 

    Sairah Burki
    Managing Director, Head of Regulatory
    Affairs & Sustainability
    703.201.4294
    sburki@crefc.org
    David McCarthy
    Managing Director, Chief Lobbyist, 
    Head of Legislative Affairs
    202.448.0855
    dmccarthy@crefc.org

    News Archive

    The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2025 CRE Finance Council. All rights reserved.
    CREFC Launches Two New Committees to Strengthen Industry Advocacy and Legal Insight
    February 4, 2025
    CREFC is pleased to announce the formation of two new member-driven committees.
    More info...

    More Advocacy Resources

    CREFC Policy and Capital Markets Briefing

    Read the latest issue of CREFC's weekly Policy and Capital Markets Briefing

    CREFC Policy Tracker

    CREFC’s Policy Tracker includes a variety of visual aids and updates to help members understand, track, and analyze key policy issues affecting the CRE and multifamily finance industry.

    ESG Initiatives

     CREFC’s Sustainability Initiative seeks to align the objectives of our members and the CRE finance industry with the opportunities and challenges of environmental, social and corporate sustainability.
     

    Read the Latest Government Relations Alerts

    For our weekly government relations and industry policy briefings, please visit our Document Resource Center. The Document Resource Center contains CREFC position papers, analyses, testimony, and other policy tools.

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