Quinn issued the following statement:

"I want to thank the President for moving quickly to replace the outgoing HUD secretary.  At SBA, Mr. Preston has demonstrated that he has a strong understanding of the role that the government can play in helping businesses succeed and build stronger communities.

"Mr. Preston will have a number of important projects to complete at HUD.  We look forward to working with him on efforts to stabilize the housing market and help at-risk borrowers.  With a short period of time remaining and a lot of work to be done, I hope the Senate will confirm Mr. Preston quickly." 

###

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 2,200 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.