MBA’s Chief Operating Officer, John A. Courson, issued the following comment:

“I want to commend FHA Commissioner Brian Montgomery and his team at HUD, working with staff at the Federal Reserve, Treasury and the FDIC, for quickly developing the initial regulations and guidelines to implement the Hope for Homeowners program.  Hope for Homeowners will provide lenders with another important tool to help keep families in their homes.  Nobody wins when a home goes to foreclosure.  This program will help the government, lenders and homeowners work together to avoid that end. 

“MBA looks forward to working with FHA to address operational challenges in the implementation of the Hope for Homeowners program to make it an even more effective tool to help homeowners.”

###

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.