MBA Responds to Treasury/FHFA Actions on GSEs

Washington, D.C.–John A. Courson, Chief Operating Officer of the Mortgage Bankers Association (MBA) praised the Treasury for placing Fannie Mae and Freddie Mac in a conservatorship. “I applaud them for taking crucial steps to ensure that Fannie Mae and Freddie Mac can continue to play their critical role of providing liquidity to the housing finance system, thus providing Americans the opportunity for homeownership and affordable rental housing,” says Courson.“The unprecedented steps taken will provide confidence that the housing finance system will continue to operate without major disruption, and offer an opportunity for a recovery of the housing market while allowing for a full and frank debate over the future of the Government Sponsored Enterprises (GSEs),” he adds. The MBA was actively monitoring this situation throughout the weekend and was working closely with the administration, Congress as well as the media and believes that the takeover of Fannie Mae and Freddie Mac has significant implications for the future of the U. S. housing finance system. In anticipation of policy debates over the long-term structure and role of the GSEs, the MBA will be “working with its members to develop policy options that ensure a strong secondary mortgage that provides a stable supply of affordable mortgage credit,” according to Courson.