The Community Home Lenders of America, Independent Community Bankers of America and National Association of Realtors sent a joint letter to White House officials seeking changes involving mortgage-backed securities.
Federal Reserve examiners didn’t do enough to prevent the failure of Silicon Valley Bank, according to the Fed’s IG. Now, the Fed is working to address interest rate risk tied to bank holdings of MBS and ABS.
The MBA, NAHB and NAR want the Fed to announce it’s done raising interest rates and that it won’t sell MBS holdings until there’s some stability in the housing market. The request could fall on deaf ears.