| Title: | MBA's Quinn Highlights Servicer Efforts to Help Borrowers, Offers Policy Recommendations in Remarks at Chicago Fed |
| Source: | MBA |
| Date: | 5/16/2008 |
|  Related Document(s): |
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Chicago, IL (May 16, 2008) - Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers Association (MBA) today spoke today at the Federal Reserve Bank
of Chicago's 44th Annual Conference on Bank Structure and Competition. In his remarks, Mr. Quinn spotlighted the work mortgage
servicers are doing to help at-risk borrowers and said that the proper legislative and regulatory approach would allow servicers
to help more borrowers, while stabilizing the market and preventing a reoccurrence of the events that resulted in the current
difficulties. Mr. Quinn cautioned that the wrong approach has the potential to exacerbate the current troubles and deprive
future borrowers the opportunity to become homeowners.
The text of Mr. Quinn's remarks, as well as his presentation, can be found under "Related Documents" to the right.
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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.