The Mortgage Bankers Association's (MBA) Council on Ensuring Mortgage Liquidity, a group of leaders from the real estate finance industry working to provide a framework for a renewed secondary mortgage market, has released a white paper that MBA President and CEO John Courson says provides a common foundation as policy discussions take shape.
The council is led by Michael D. Berman, MBA's incoming vice chairman and the president of CWCapital, and its cross-industry representatives include the single-family, multifamily and commercial sides of the industry, as well as depository institutions, mortgage banking firms, mortgage insurers and more.
The paper stems, in part, from a summit hosted by the council in November that brought together academics, industry professionals, regulators and others to discuss what fundamental elements are required for a functioning secondary market.
The council will build on the Summit's work and the paper in the coming weeks and months to identify key principles that policy-makers and others should consider when evaluating proposals that will affect the market's future, Courson says.
The white paper, titled "Key Considerations for the Secondary Market and the Government-Sponsored Enterprises," can be found on the MBA's Web site, www.mortgagebankers.org.