Press Release


Title: MBA Calls on Senate to Confirm FHFA Director
Source:   MBA
Date: 10/30/2013

E.J. Burke, Chairman of the Mortgage Bankers Association (MBA), today issued the following statement on the nomination of U.S. Representative Mel Watt to be Director of the Federal Housing Finance Agency (FHFA).

“More than five years after being put into conservatorship, Fannie Mae and Freddie Mac remain in limbo.  The President has nominated Congressman Watt to be the Director of the Federal Housing Finance Agency, a critical leadership position that needs to be filled on a permanent basis in order to advance the debate over the future of the government’s role in the mortgage market.

“Congressman Watt would bring considerable experience to the post of Director. His two decades of work on the House Financial Services Committee gives him a strong base of understanding on a wide variety of public policy issues related to housing finance. This familiarity and understanding would serve him well in this new position.    

“MBA has had a longstanding relationship with Congressman Watt, and has had the chance to engage him directly on a number of occasions since his nomination was announced.  MBA would be ready and willing to work with him in his new capacity to provide technical support and expertise as he oversees the restructuring of the secondary mortgage market.   Based on these factors, we would urge the Senate to approve his nomination.”

 

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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.mba.org.