MBA welcomes announcement that Senate committee has reached deal on bipartisan housing finance reform proposal; group says government sponsored enterprise reform must be addressed in a 'substantive, transparent' manner
March 11, 2014
– David H. Stevens, President & CEO of the Mortgage Bankers Association (MBA), issued the following statement in response to the announcement by Senate Banking Chairman Tim Johnson, D-S.D., and Ranking Member Michael D. Crapo, R-Idaho that they have reached agreement on a housing finance reform proposal:
“This announcement reinforces the immediate need to address GSE reform in a substantive, transparent way. Chairman Johnson and Ranking Member Crapo are to be commended for coming together in a bi-partisan fashion and advancing a comprehensive solution to improve the function of the secondary mortgage market in a way that engages private capital and reduces risk for taxpayers. MBA looks forward to continuing to work with members of the Senate Banking Committee as well as other policymakers and stakeholders to create a system that allows for a vibrant and liquid residential and multifamily mortgage market."
The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation's residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field. For additional information, visit MBA's Web site: www.mba.org.