MBA Statement Regarding New York Times Story

WASHINGTON, D.C. – December 07, 2015 – (RealEstateRama) — The Mortgage Bankers Association (MBA) issued the following statement this morning in response to inflammatory and unfounded allegations in a New York Times story regarding the association’s advocacy surrounding housing finance reform.

“This story lacks substance and merit and thus is completely pointless. MBA advocates tirelessly on behalf of all of its members, both large and small, who represent the entire real-estate finance industry. At no point during David Stevens’ tenure in the government and now as president and CEO of the Mortgage Bankers Association, did he ever violate any ethics statute. MBA will be putting out a more detailed response to specific points in this story later today.”

Bill Cosgrove, CMB, immediate past chairman of the Mortgage Bankers Association (MBA) and President & CEO of Union Home Mortgage, Strongsville, OH, added:

“MBA, and Dave Stevens in particular, have been staunch advocates for small lenders and the allegations in this storybook view could not be further from the truth. As the owner of a small independent mortgage bank, and having been involved in MBA leadership for over a decade, I have watched as MBA consistently fights on behalf of all of its members, regardless of size or business model.”

CONTACT
Rob Van Raaphorst

(202) 557- 2799

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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

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