Statement Regarding Letters Filed by National Legal and Policy Center

Washington, D.C. – (RealEstateRama) — John T. Mechem, spokesman for the Mortgage Bankers Association (MBA), issued the following statement today in response to letters sent today by the National Legal and Policy Center.

“Dave Stevens and the Mortgage Bankers Association are scrupulous about our legal and ethics compliance obligations. From the moment Dave was first contacted by MBA regarding potential employment, he initiated regular meetings with the General Counsel and Designated Ethics Official of the Department of Housing & Urban Development to ensure he completely understood the applicable federal laws and the Obama Administration voluntary policies related to post-employment activities. Both Dave and MBA have followed those laws and policies without deviation.

“Since ending his government service, Dave has regularly consulted with attorneys inside and outside MBA to make sure that he and the Association are always in full compliance with the law. Outside counsel to MBA has specifically reviewed Dave’s activities on behalf of MBA and its members and has confirmed that Dave has operated fully within the letter and spirit of the lobbying laws and ethics rules.

“We believe these unfounded allegations are part of a concerted campaign concocted by a group who apparently have a financial incentive to discredit Dave and MBA’s efforts to advocate on behalf of our members for secondary mortgage market reform. Opposing MBA’s policy views is one thing, but engaging in false personal attacks is reprehensible.”

CONTACT
John Mechem

(202) 557- 2924

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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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