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| David H. Stevens |
WASHINGTON, D.C. (July 21,
2015) – David H. Stevens, president
and CEO of the Mortgage Bankers Association, issued the following statement
upon learning that the U.S. Senate’s transportation funding bill would extend
an increase of Fannie Mae and Freddie Mac’s guarantee fees in order to fund
transportation projects.
“Senators need to vote
'no' on cloture on the motion to proceed to this bill and go back to the
drawing board on the pay-fors.
“Taxing homebuyers, which is the practical
effect of increasing guarantee fees, to pay for unrelated government spending
like this, is simply bad policy.
“It’s bad for borrowers, it’s bad for the
housing market and it’s bad for the economy, just as all three are finally showing
signs of recovering from the 2008 meltdown.
“That is why we are asking
all Senators to vote against this bill until they can find a more appropriate
funding mechanism.”
For a complete
copy of the company’s news release, please contact:
Rob Van Raaphorst
(202) 557-2799
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