MBA Assembles Task Force to Plan Future of Secondary Mortgage Market

by devteam December 19th, 2012 | Share

The Mortgage Bankers Association (MBA)rnhas formed a task force to revisit its 2009 proposal for the future Freddie Macrnand Fannie Mae, the two government sponsored enterprises (GSEs) and thernsecondary mortgage market.  The GSE Single FamilyrnTask Force will be led by Tim Dale, Executive Vice President of Mortgage Lending at BB&T and arnformer chairman of MBA’s Residential Board of Governors.</p

The Task Force will conductrnits work in two phases.  In the first itrnwill revisit MBA’s end-state policy position from 2009 and identify issues thatrnwill need to be considered during transition. rnThe second phase will include a detailed plan for accomplishing each ofrnthe most important transition issues in moving toward the end state.  Therntask force plans to invite participation from other stakeholders during thernprocess and will coordinate closely with MBA’s GSE Multifamily Task Force,rnwhich released its own white paper</aearlier this month. </p

MBA’s Chairperson DebrarnW. Still said that MBA’s 2009 proposal contained concepts that “became centralrnto the most serious discussions over the future role of the government inrnhousing finance.  However, four years later, Fannie Mae and Freddie Macrnare still in conservatorship, with no end in sight.”    </p

“The oversizedrngovernment role in the residential market, and the uncertainty surroundingrnFannie Mae and Freddie Mac, have created an unhealthy and unsustainablernmortgage market,” said Dale.  “Most stakeholders agree that we need tornre-engage private capital in the market, but that won’t happen until thernfundamental questions around the GSEs and the government role isrnresolved.  Our diverse task force of industry leaders will tackle thesernissues, with a key focus on transition.”      </p

The members of MBA’s GSErnSingle Family Task Force are:</p<ul type="disc"

  • Timothy C. Dale, CMB (Chairman), BB&T</li
  • Richard A. Aneshansel, U.S. Bank Home Mortgage</li
  • Jon K. Baymiller, NYCB Mortgage Company</li
  • Byron L. Boston, Dynex Capital</li
  • Donald G. Calcaterra, CMB, Towne Mortgage Company</li
  • Garry Cipponeri, Chase</li
  • Jordan D. Dorchuck, CMB, Homeward Residential</li
  • William E. Emerson, Quicken Loans</li
  • Robert G. Gaither, PNC Bank</li
  • Adolfo F. Marzol, Essent Guaranty</li
  • Tom Millon, CMB, Capital Markets Cooperative</li
  • David Motley, CMB, Colonial National Mortgage</li
  • Bob Ryan, Wells Fargo Home Mortgage</li
  • Jerry Schiano, New Penn Financial</li
  • Patrick Sinks, Mortgage Guaranty Insurance Corporationrn (MGIC)</li
  • David A. Spector, PennyMac Loan Services</li
  • Keith Tibbles, Cobalt Mortgage</li

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