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MBA Wants Smaller Mortgage Lenders to Have More Investor Access

reversemortgagedaily.comJune 4, 2013

By Elizabeth Ecker

Mortgage market reform should provide smaller lenders the same access to the investor market as large lenders, according to a Mortgage Bankers Association proposal released Monday. The recommendation comes in response to proposed reform for Fannie Mae and Freddie Mac that will transition away from their participation in the mortgage-backed securities market. 

“It is critical that as policymakers transition away from Freddie Mac and Fannie Mae, a competitive environment is created so that smaller lenders are able to be effective in the secondary market,” said Debra Still, MBA’s chairman. “Community lenders are a crucial part of a diverse, efficient marketplace that provides Americans across the country with safe, sustainable and affordable mortgage credit.”

Even for small lenders that are not securitizing loans, they still should have access to the secondary market, MBA urges, noting the need for small pool executions, price certainty, quick funding, ease and execution for those lenders. 

As the GSE portfolios wind down, MBA says, the FHFA Common Securitization Platform initiative should include plans for the acceptance of small lot deliveries into multi-lender pools.

“MBA’s concept papers all contain core components of any future state including transparency, a steady flow of mortgage capital and an explicit federal guarantee,” said Bill Cosgrove, MBA’s vice chairman. “This paper clearly and concisely lays out the key issues that community banks and independent mortgage banks like mine need to see addressed as we move towards the secondary mortgage market of the future.”


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CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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