MBA Reform Proposal Will Have Little Impact on Consumer Costs

Posted To: MND NewsWire

In April, the Mortgage Bankers Association (MBA) published its proposal for reform of the housing finance system. This week Mike Fratantoni, MBA's Chief Economist and Senior Vice President of Research and Economics, weighed in on the potential implications of that plan on the cost of mortgage credit. Fratantoni says evaluating any such proposal must balance three major objectives; protecting taxpayers , attracting capitol to those who guarantee the loans or mortgage backed securities (MBS), and ensuring consumers and borrowers have access to affordable financing. For certain stakeholders, he says, the last is the most important consideration, but they should understand that a more stable system also will have benefits for consumers, ensuring access to financing even during unstable market periods...(read more)

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