WASHINGTON, D.C. (June 22, 2018) – (RealEstateRama) — David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association (MBA) issued the following statement regarding the proposal to reform the government’s role in housing finance released today as part of the White House’s government reorganization proposal:
“MBA applauds the Administration for releasing a proposal to reform Fannie Mae and Freddie Mac which closely tracks much of the work that has been done to date by policymakers on Capitol Hill. It includes many core principles that MBA has long advocated for, such as an explicit government guarantee on MBS only as a catastrophic backstop, allowing for multiple guarantors and ensuring small lender access. MBA is heartened that the proposal recognizes that reform must be part of any plan before either Fannie Mae or Freddie Mac is released from conservatorship.
As with any proposal of this size, the devil is in the details and MBA looks forward to working with the Administration, and Congress to finally tackle this long overdue issue.”
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