Quinn issued the following statement:

“I applaud Senators Reid, McConnell, Dodd and Shelby for putting aside partisan differences to craft a housing stimulus package that will keep at-risk borrowers in their homes, which is something we all agree should be the top priority.

“A more modern and effective FHA, mortgage revenue bonds for state housing finance agencies, additional money for counseling – these are all things that will be of great help to struggling homeowners.  I hope that Senators will keep their eye on that goal, and not attempt to attach to the bill partisan provisions such as bankruptcy cramdown that would increase borrowing costs on all future borrowers and delay progress on this important bill.”

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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 280,000 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.