The Federal Reserve’s Federal Open Market Committee held its July meeting on Wednesday. That’s always a good time to take a breath and look at the state of the housing market. This past meeting more so than others.
With the administration and Congress both focusing on reforming Fannie and Freddie – the GSEs – the Senate Banking Committee will hold another hearing on the topic this week, with a focus on maintaining access to the secondary mortgage market for small lenders. This is welcome news. The secondary mortgage market affects millions of American homebuyers and is the lifeblood of small, independent lenders. MBA’s plan for GSE reform ensures equal access for lenders of all sizes and business models, a point I made in my testimony before the same committee last month.
Tomorrow, I am testifying before the Senate Banking Committee at a hearing entitled Principles of Housing Finance Reform. This will be an excellent opportunity for to discuss the merits of MBA’s recently released housing finance reform proposal, which addresses the future of the secondary mortgage market. Continue reading
Next week, hundreds of MBA members from across the country will come to Washington for MBA’s National Advocacy Conference (NAC). It’s an annual tradition that enables MBA members to speak directly to their elected officials as advocates for our industry – and their own businesses and customers. Last year’s conference was one of the most successful in recent years; this year’s program promises to be just as informative and engaging. Continue reading