| Title: | MBA's Quinn: We Look Forward to Working with Preston |
| Source: | MBA |
| Date: | 4/18/2008 |
Contacts:
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WASHINGTON, D.C. (April 18, 2008) - Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers Association (MBA) commended today's White House announcement that
President Bush intends to nominate Steven Preston, currently Administrator of the Small Business Administration (SBA) to be
the next Secretary of Housing and Urban Development.
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."
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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.