With the objective of ending the conservatorship of Fannie Mae and Freddie Mac and establishing a new, durable foundation for the secondary mortgage market, MBA has released the first of two papers outlining our recommended approach to GSE reform. MBA is uniquely positioned to present the most comprehensive approach to GSE reform as our expansive membership base represents lenders who are in the market every day representing every aspect of originating, selling and servicing single-family and multifamily mortgages in the United States. MBA members appreciate and understand the vital importance of a healthy secondary market for mortgages in a way that those outside the industry cannot.
Therefore, MBA created a member-driven task force, MBA’s Task Force for a Future Secondary Mortgage Market, comprised of senior leaders from a cross-section of multifamily and residential members of all sizes, including independent mortgage bankers and bank lenders. The task force’s objective is to develop a proposal that will address the future of the secondary mortgage market, and in particular, an end-state model that can also fulfill an affordable housing mission and articulate transition steps to the future state.
Rodrigo Lopez, MBA’s 2017 Chairman, leads the work of the task force, ensuring a wide breadth of industry perspectives that successfully build a bridge connecting key public policy goals with the realities of the marketplace. We intend to help design a secondary market system that works for all market participants, regardless of size, through all economic cycles, while ensuring affordable mortgage credit to help the broadest range of homeowners and renters.
As MBA continues it work on the final, comprehensive plan which will be released in late April of this year, we look forward to working with Congress, the Trump Administration, and other stakeholders to make sure that any reform to the secondary mortgage market strengthens and protects lenders of all sizes, as well as consumers.