The Mortgage Bankers Association (MBA) has applauded the Senate Banking Committee's hearing on the secondary mortgage market and the government-sponsored enterprises (GSEs). In October of 2008, the MBA established the Council on Ensuring Mortgage Liquidity. The Council's mission has been to look beyond the current crisis, to what a functioning secondary mortgage market should like for the long-term. In September, the Council released its proposal for the future government role in the core secondary mortgage market.
MBA Vice Chairman Michael D. Berman, CMB issued the following statement.
"We applaud today's hearing to examine the future of the secondary mortgage market and the federal housing enterprises. We think it is a valuable step and hope it is the first in a series of hearings looking into the future of the secondary mortgage market. The GSEs have played a critical role providing liquidity for mortgage lending and a complete housing recovery will not be possible without a healthy, functioning secondary market. MBA looks forward to working with the committee on this important issue."
For more on the Council on Ensuring Mortgage Liquidity and its activities, visit MortgageBankers.org/CEML.
For more information, visit MortgageBankers.org.