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Volume 18 - Number 4

February 16, 2018

Mortgage Banking Executives Sign Letter to Congress on GSE Reform

This week, 127 mortgage banking executives attached their names to an open letter to members of Congress, urging federally elected politicians not to cede the work of housing-finance reform to the White House and the institutions it controls.The correspondence asks lawmakers to back draft legislation that creates a new “guarantor-based” system that builds on the current infrastructure created and maintained by Fannie Mae and Freddie Mac.The executives, members of the Mortgage Bankers Association, favor improving the system by having “two or more” guarantors. The group believes a guarantor-based system – as opposed to an “issuer-based” system – is the best way to meet the nation’s housing-finance needs.

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What’s your opinion on how Mick Mulvaney has managed the CFPB since he took over three months ago?

He’s done a good job of paring back the agency’s excesses and we’d like to see more.
I hope he totally dismantles the agency and sends those functions back to the agencies hence they came.
Not bad, but he needs to take his time making additional changes.
We’re totally aghast. He’s gone way too far in protecting the rights of companies not consumers!

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