|Title: ||MBA Statement on Re-Election of President Obama|
Washington, DC (November 7, 2012) -- The Mortgage Bankers Association (MBA) released the following statement reacting to the re-election of President Barack
“The Mortgage Bankers Association congratulates President Obama on his re-election and looks forward to continuing to work
with the administration on efforts to revitalize the real estate and mortgage markets. We encourage the President and Congress
to work in a bi-partisan, cooperative manner so continued progress can be made on the critical issues our nation continues
“We are at a very delicate time in a fragile housing recovery, and government and regulatory policies around housing need
to be carefully thought out, in a comprehensive manner, ever-mindful of the way new programs, rules and regulations intersect
with each other.
“That is why we are renewing our call on the President to appoint a federal housing policy coordinator to act as a ‘traffic
cop’, not to make rules and policies, but rather to ensure a coordinated housing policy where federal and regulatory agencies
are effectively talking to each other as the rulemakings and policies are proposed and adopted in order to ensure that they
complement each other.
“We applaud this administration for the work that has been done to help borrowers in need and to establish rules to protect
consumers from abusive lending practices. It is now critical that we build upon that progress in a balanced way that will
protect current and future borrowers, while still giving qualified consumers access to the credit they need. Investment in,
and financing of, real estate remains a crucial building block for this nation’s economy.
“MBA supports efforts that protect consumers without cutting off the supply of mortgage credit through burdensome regulation
and exposure to litigation. We will work with the Obama administration to ensure that policymakers understand the nature
of the tradeoffs involved in various regulatory and legislative efforts.
“Economic growth must be an overarching goal of the President’s second term, and our industry is committed to being a productive
partner with all policymakers to ensure that rules are put in place that will foster safe, sustainable investment in real
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 2,200 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. For additional information, visit MBA's Web site: www.mortgagebankers.org.