MBANow: Rodrigo Lopez, CMB, Discusses GSE Reform Principles, Guardrails
The Mortgage Bankers Association released a new MBANow video on YouTube featuring MBA Chairman Rodrigo Lopez, CMB, who discusses the new MBA paper, GSE Reform Principles and Guardrails.
The paper calls for ending the conservatorship of Fannie Mae and Freddie Mac and establishing a new, durable foundation for the secondary mortgage market with explicit guarantees for mortgage-backed securities.
Specifically, the paper outlines a preferred end-state; principles that should be incorporated in any future system; key components and guardrails of the end-state; and emphasizes the need to ensure a smooth transition to a reformed secondary mortgage market.
The paper is derived from the work of the MBA Task Force for a Future Secondary Mortgage Market, representing a broad cross-section of MBA members.
“This is an introduction to the work that the Task Force has been doing for the past year,” Lopez said. “On behalf of consumers and our customers, we want to be sure we have a stble and liquid secondary finance market, and we are the ones who make it work…we want to offer policymakers and other stakeholders some guidance as to how the system should be designed in order to protect and serve consumers.”
To watch the video, click https://www.youtube.com/watch?v=c6FoARYZ4B4&feature=em-uploademail.
These and other videos in the MBANow series can be viewed at the MBA YouTube channel, https://www.youtube.com/watch?v=Swk2VUJeZFI&feature=em-uploademail.
The videos are also available on the MBA Insights landing page, https://www.mba.org/publications/insights/insights-publication##SubscriberID####RND##&PageID=21109.
