Stevens Blasts Senate Plan to Tax Homebuyers

Stevens Blasts Senate Plan to Tax Homebuyers

WASHINGTON, D.C. – July 22, 2015 – (RealEstateRama) — 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.”

Rob Van Raaphorst

(202) 557- 2799


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.


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

Phone: (202) 557-2700

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