"I want to thank Chairman Frank and Ranking Member Bachus for their leadership in shepherding GSE reform legislation though the House," said Mr. Robbins. "The GSEs play an important role in the success of America's housing finance system and the establishment of a strong and independent regulator with enhanced abilities to oversee both safety and soundness and compliance with GSE charter purposes is critical to the continuation of a strong housing finance system."

"I hope the House action will spur the Senate to take up a companion measure in the near future," added Robbins. "There is widespread agreement that the oversight regime for the GSEs needs reform, and many of the most important provisions are pretty well settled. However, a few controversial issues remain. The sooner the Senate moves a bill, the sooner these issues will be addressed and the sooner we can give the GSEs the strong regulator they need."

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The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 370,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation's residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,400 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field. For additional information, visit MBA's Web site:  www.mortgagebankers.org.