A Letter from Mortgage Bankers Assoc Concerning Pres. Obama Plan for Mortgages

Services for Real Estate Pros with Capital City Mortgage Investments, Inc Since 1994
February 11, 2011

Dear MBA Member:

This morning, the Obama administration released its long-awaited white paper that outlines several concepts for reshaping the government's role in the mortgage market.  As we note in our statement, this is another, albeit extremely important, step in the process of finding a long term solution to some of the difficulties plaguing the mortgage market.  We are heartened to see that one of the administration's ideas closely mirrors the plan that MBA released a year and a half ago.  You can be assured that we will remain highly engaged as the debate moves forward in order to ensure that whatever the final resolution is, it creates a workable system that engages private capital without dramatically increasing costs for borrowers and renters.  Over the coming weeks and months, MBA will continue to reach out to its members to help work with policymakers to craft a system that returns stability to the markets and ensures affordable housing opportunities for buyers and renters alike.

Attached, please find a copy of MBA's reaction to the plan, as well as the press release and white paper from the administration.

If you have any questions, as always, please feel free to email or call me.

Yours Very Truly,

John A. Courson
President and Chief Executive Officer
Mortgage Bankers Association
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