MBA Calls on House to Pass Neugebauer-Huizenga Amendment

WASHINGTON, D.C. – November 5, 2015 – (RealEstateRama) — David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association (MBA), issued the following statement urging the House to adopt the Neugebauer-Huizenga amendment to H.R. 22, the DRIVE Act:

“MBA supports this amendment because it would remove an extension of higher Fannie Mae and Freddie Mac guarantee fees. The purpose of these fees is to guard against credit losses at Fannie Mae and Freddie Mac and should only be used to protect taxpayers from mortgage losses.

“The amendment would also remove a harmful proposal to reduce the dividend paid on Federal Reserve stock, which would reduce the amount of capital banks of all sizes have to lend to small businesses and consumers.

“MBA urges the House to pass this amendment in order to protect taxpayers, consumers and the overall health of the housing and finance system.”

MBA also signed a joint trade letter  to House Leadership supporting this amendment.

CONTACT
Rob Van Raaphorst

(202) 557- 2799

SHARE
MBA

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 2,400 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.

Contact:

Mortgage Bankers Association
1331 L Street, NW
Washington, DC 20005

Phone: (202) 557-2700

Previous articleMortgage Applications Slightly Decrease in Latest MBA Weekly Survey
Next articleDepartments of Justice, Housing and Urban Development, and Health and Human Services Establish $2.3 Million Domestic Violence and Housing Technical Assistance Initiative