MBA’s Stevens Congratulates President-Elect Trump – NMP Skip to main content

MBA’s Stevens Congratulates President-Elect Trump

Phil Hall
Nov 09, 2016
The new push by the Trump Administration to bring the government-sponsored enterprises (GSEs) out of their 11-year federal conservatorship could result in some negative impacts on the wider mortgage market, according to an opinion piece by David H. Steven

The head of the nation’s largest mortgage banking trade group has sent his congratulations to the real estate developer who was elected the 45th President of the United States.

In a statement issued this morning, David H. Stevens, president and CEO of the Mortgage Bankers Association (MBA), congratulated Donald Trump on his election victory and called for a new partnership between government and the private sector regarding the future of the housing market.

“Today, our industry is operating in the safest and soundest lending environment ever designed,” said Stevens. “MBA will work with President-Elect Trump and his Administration, as well as with the new Congress, with the goal of advancing an agenda that restores housing as a lead economic driver for individual wealth creation and the nation as a whole. Therefore, it is critical that President Trump focus on three main areas–ensuring an adequate supply of affordable housing, bringing first time homebuyers back into the housing market and ensuring certainty in regulations. We are looking forward to engaging with policymakers, new and old, to guarantee sustainable access to credit for qualified consumers, and restore balance and prosperity to the real estate markets.”

The MBA did not formally endorse any candidate during the presidential race. Stevens, who served as the commissioner of the Federal Housing Administration in President Obama’s first term, used his Twitter channel to repost messages that supported Hillary Clinton’s candidacy and questioned the worthiness of the Trump campaign.

Housing and financial services trade groups have begun to issue statements congratulating Donald Trump’s election victory.

Ed Brady, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Bloomington, Ill., offered a forward-looking message of cooperating with the new administration and the new Congress.

“The National Association of Home Builders congratulates Donald Trump on his election as the 45th President of the United States of America and all the lawmakers who were elected to the 115th Congress,” he said. “When President-elect Trump takes the oath of office in January and the 115th Congress convenes, NAHB looks forward to working in a bipartisan manner with the incoming administration and Republican and Democratic congressional leaders to tackle critical issues facing the housing industry. Specifically, policymakers need to reform the regulatory process, ensure creditworthy home buyers and small businesses can get mortgages and loans, protect the mortgage interest deduction and expand the Low-Income Housing Tax Credit. It is also essential to enact comprehensive housing finance reform that safeguards the 30-year mortgage. This pro-housing legislative and regulatory agenda will spur job growth and keep the housing and economic recovery moving forward.”

Jim Nussle, president and CEO of the Credit Union National Association (CUNA), gave a shout out to both Trump and his running mate.

“CUNA congratulates President-elect Donald Trump and Vice President-elect Mike Pence for their victory,” said Nussle. “We look forward to working with Mr. Trump and his team on issues vital to America's middle class and the credit unions that serve them.”

Other trade groups also shared their best wishes to the new president.

“NAR doesn’t get involved in the presidential elections, but we congratulate the President-Elect on his victory,” said Jon Boughtin, spokesperson for the National Association of Realtors. “NAR looks forward to working with the new House, Senate, and presidential administration in support of homeownership.”

“Our country faces big challenges, but it also has incredible opportunities for innovation and growth that will provide a brighter future for people who need hope and help," said Financial Services Roundtable CEO Tim Pawlenty. “The new Administration and Congress should enact policies that grow the economy, spur innovation, protect both consumers and taxpayers, add good-paying jobs, and help more Americans reach their financial goals."  

National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger congratulated President-Elect Trump, and asked for his support for the credit union industry.

"Credit unions are under a regulatory assault in the wake of the Dodd-Frank Act," said Berger. "Lawmakers and regulators readily agree that credit unions did not participate in the reckless activities that led to the financial crisis, and as such, shouldn’t be caught in the cross-hairs of regulations aimed at those entities that did. Unfortunately, that has not been the case thus far and finding ways to cut-down on burdensome and unnecessary regulatory compliance costs is a chief priority of NAFCU members."

Nov 09, 2016
Homepoint Expands Refinance Program Offerings

Now offers Freddie Mac’s new refinance option, Refi Possible, making it easier for many homeowners with a Freddie Mac-owned mortgage to reduce their interest rate.

Industry News
Nov 30, 2021
Non-QM Lender Deephaven Hires Business Development VP

Dallas-based Tim Fisher charged with growing Deephaven’s correspondent business In Texas and surrounding states

Industry News
Nov 30, 2021
Biden Reappoints Powell As Federal Reserve Chairman

A signal that The Fed will continue its policies as inflation surges and economic uncertainty spikes due to an emerging variant of the coronavirus. 

Industry News
Nov 29, 2021
Servion Taps Sagent For Consumer-First Servicing Tech Stack

A 7-year deal between Servion Mortgage and Sagent will equip Servion with Sagent's tech stack for performing, non-performing, and consumer experience.

Nov 29, 2021
Guaranteed Rate's Banosian Funds $2B In Total Loan Volume

The mortgage industry shouldn't be surprised by Guaranteed Rate's top loan officer, Shant Banosian, funding $2 billion in total loan volume during a record-breaking year. After all, “The Billion Dollar Man” is one of the top 5 loan originators in the U.S.

Nov 29, 2021
Chairman Xu Sells Off Personal Assets To Avoid Default

The Evergrande saga continues as Chairman Xu Jiayin sells off 7 billion yuan ($1.1 billion) of his personal assets to prop up the deflating property giant.

Industry News
Nov 23, 2021