Wednesday, June 26, 2013

MBA Statement on Introduction of Corker-Warner Housing Finance Legislation

   
Debra W. Still
WASHINGTON, DC – Executives from the Mortgage Bankers Association (MBA) issued the following statements today following the introduction of housing finance legislation by Senators Bob Corker (R-TN) and Mark Warner (D-VA).

Statement of David H. Stevens, MBA’s President and CEO:

“The introduction of this bipartisan bill represents an important step in redefining the government role in housing finance and is a positive framework on which to begin this crucial debate.  Senators Warner and Corker are to be commended for taking a thoughtful and comprehensive approach to drafting a bill to restructure the secondary mortgage market in a way that provides sufficient liquidity to the market so that lenders can offer a full range of sustainable mortgage credit to qualified borrowers through all market conditions.    

David H. Stevens
“We realize that this bill is a starting point for the debate, and we are eager to work with the leadership of the Senate Banking Committee, the authors, and other committee members to improve the bill in a way that creates a vibrant secondary market capable that works for lenders of all sizes and business models so they can support both the owner-occupied and the multifamily rental housing markets."

Sen. Bob Corker (R-TN)
Statement of Debra W. Still, CMB, MBA’s Chairman:

“Fannie Mae and Freddie Mac have been in conservatorship for almost five years now, and it is important that policymakers begin defining a long-term plan for the future role of the federal government in the mortgage market.  The Corker-Warner bill is a significant milestone and should get policymakers headed in that direction.

Sen. Mark Warner
(D-VA)
“We are pleased to see a number of synergies between this bill and MBA members’ thinking on the future secondary market, and we believe the Corker-Warner approach is consistent with the broad objectives of the secondary market transition concepts that MBA has recently announced.”

For a complete copy of the company’s news release, please contact:

(202) 557-2924

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