MBA chief on GSE reform: ‘The time to act is now’

Mortgage Bankers Association (MBA) CEO David Stevens is expected to urge lawmakers to establish a clear vision for the future of Fannie Mae and Freddie Mac at the MBA’s 2013 Secondary Market Conference & Expo, which kicked off in New York on Sunday.

According to prepared remarks that Stephens is scheduled to deliver at the event, the MBA chief will stress that now is an ideal time to transition to a new system that could coax private capital back into the housing market and outline a plan of action that includes the following three goals:

  • Establishing a housing policy coordinator that will clear up regulatory confusion
  • Create “absolute transparency” that would bar the GSEs from making decisions without input for key industry players.
  • Iron out a clear path for GSE reform, partly by moving towards a standardized security and encouraging risk-sharing.

Source: Mortgage Bankers Association