One of OMBA’s core responsibilities is representing the industry in ways that preserve, protect, and promote a healthy real estate lending environment for Oregon consumers and all parties transacting within the state. To support this mission, OMBA contracts annually with Markee & Associates for professional lobbying services and maintains a fully volunteer Legislative Committee.
The Legislative Committee works closely with Markee & Associates, reports to the OMBA Board, and acts on behalf of the membership to review proposed legislation and determine whether OMBA should support, remain neutral on, or oppose specific measures. The committee currently consists of nearly 15 volunteers with diverse lending backgrounds, providing well-rounded and informed representation.
The 2026 “short” legislative session is now underway. At present, approximately 105 Senate and 160 House measures have been filed. Of those, 23 bills are currently being monitored by the OMBA Legislative Committee, with that number subject to change as amendments are introduced.
Heading into the session, one of the most closely watched issues was Oregon’s projected budget shortfall. Revised figures have since shifted the outlook, with an updated 2025 ending balance and increased General Fund revenues converting a projected $63 million deficit into an estimated $198 million surplus. As a result, legislative focus has moved away from budgetary pressures toward other policy areas.
Bills on OMBA’s watch list include topics related to land use and housing supply, assistance for first-time homebuyers, and efforts to reduce the risk of deed theft through fraudulent activity. Because the 2026 session is one of the “short” sessions (even years are short and odd years are long in Oregon), the session, which began February 2, 2026, will end no later than Sunday, March 8, 2026.
One bill of note is HB 4136, which would eliminate Oregon’s income tax deductibility of mortgage interest paid on second homes. The stated intent of the bill is to generate approximately $9 million annually to support underserved homebuyers. While OMBA supports thoughtful initiatives that expand homeownership opportunities, the association currently opposes this bill for a variety of reasons and is monitoring its progress closely.
OMBA will continue to provide members with updates throughout the session. We appreciate your engagement and ongoing support of the association.
Thank you,
Eric Wiley
Vice President
Chair, Legislative Committee
Oregon Mortgage Bankers Association
