CREFC Fly-In Recap: CRE in the Spotlight
November 10, 2025
On November 5, CREFC members and staff took to Capitol Hill to update lawmakers on the CRE and multifamily finance markets, as well as issues important to the industry.
Why it matters: CREFC’s annual fly-in to D.C. offers as way for Congress to connect directly with CRE finance professionals. Members of Congress and their staff value the market updates and interaction with business leaders.
- Despite the ongoing government shutdown, offices were open and taking meetings.
- Thank you to the CREFC members who braved the uncertainty of the shutdown to deliver an impactful day.
What they’re saying: CREFC staff coordinates closely with fly-in member participants to provide briefing materials on policy issues and discussion topics. In particular, the day-to-day market insights from CREFC members reinforce our standing with offices as a trusted source of information on CRE and multifamily assets and the finance markets.
Key policy topics covered during the day included:
- Basel Bank Capital Re-proposal: CREFC is watching this closely, and staff seemed to think a re-proposal is expected late this year or Q1 2026.
- Securitization Reforms: CREFC updated offices on its ongoing efforts to streamline regulations around unnecessary and burdensome requirements that depress conduit CMBS offerings.
- Housing Issues: CREFC expressed support for ongoing federal efforts to reduce regulatory burdens and for programs to increase housing supply. Staff indicated the House is likely to begin serious consideration of the Senate ROAD to Housing bill when Congress returns.
- Terrorism Risk Insurance Act (TRIA) Reauthorization: CREFC and other real estate groups are urging a clean, long-term reauthorization on TRIA. The law will expire at year-end 2027.
- Other issues included state efforts to limit foreign investment in real estate, CFPB regulation on the Home Mortgage Disclosure Act (HMDA) and small business lending, and insurance affordability and availability.
By the numbers: CREFC members met with Republicans and Democrats in House and Senate offices. CREFC members broke into small groups to cover meetings throughout the day, with each group having four to five meetings.
Offices visited included:
- Rep. Joyce Beatty (OH-3); Rep. Mike Carey (OH-15); Sen. Kevin Cramer (ND); Sen. Steve Daines (MT-Sen); Rep. Monica De La Cruz (TX-15); Rep. Troy Downing (MT-2); Majority Whip Tom Emmer (MN-6); Rep. Scott Fitzgerald (WI-5); Rep. Mike Flood (NE-1); Rep. Vicente Gonzalez (TX-34); Rep. Sam Liccardo (CA-16); Rep. Barry Loudermilk (GA-11); Rep. Stephen Lynch (MA-8); Sen. Mike Rounds (SD); Majority Leader Steve Scalise (LA-1); Sen. Tina Smith (MN); Rep. Bryan Steil (WI-1); Sen. Thom Tillis (NC); Rep. William Timmons (SC-4); Rep. Ritchie Torres (NY-15); and Sen. Raphael Warnock (GA-Sen).
- Committee staff from the House Financial Services Committee and Senate Banking Committee.
What’s next: CREFC continues to evaluate additional opportunities to connect Congress and members. We will keep you updated on 2026 fly-in dates and opportunities.
Please contact
David McCarthy (
DMcCarthy@crefc.org) if you would like to participate in a future fly-in.