WASHINGTON, D.C. (July 28, 2011) - David H. Stevens (top right photo), President and CEO of the Mortgage Bankers Association (MBA) issued the following statement today. "The Mortgage Bankers Association is very concerned about the implications to the financial system of the United States if the U.S. defaults on its debt.
The likely impact to the financial markets, interest rates, and to every family in America will be costly if the ceiling is not raised.
We implore policymakers to act swiftly and find a workable solution, given the short time left, to take this step and not put the credit rating of the United States in jeopardy."
CONTACT: John Mechem, (202) 557-2924, jmechem@mortgagebankers.org
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