While Congress drafts and debates different legislative remedies to GSE reform that could take at least two years to materialize, regulators and administration officials can, and must, begin to act now to implement a mortgage finance solution, the head of the Mortgage Bankers Association said this week. At a press briefing, MBA President and Chief Executive Officer David Stevens rolled out the trade group’s five-point plan – “Key Steps on the Road to GSE Reform” – that could be immediately implemented by the Federal Housing Finance Agency and/or by Fannie Mae and Freddie Mac without the need for authorizing legislation and without disrupting the housing finance system. “Given the recent market recovery, some worry that if the status quo were to change, lenders could end up being in a worse position and lose some of the parity gained,” said Stevens. “We believe these steps are extremely important to support a competitive, robust and sustainable housing finance system regardless of the ultimate path taken by policymakers in Washington.”