| Title: | MBA's Courson Applauds Senate Passage of Economic Stability Package |
| Source: | MBA |
| Date: | 10/1/2008 |
WASHINGTON, D.C. (October 1, 2008) - John A. Courson, Chief Operating Officer of the Mortgage Bankers Association (MBA) tonight issued the following statement
following the Senate passage of H.R. 1424, the Emergency Economic Stabilization Act of 2008.
"We are extremely pleased that the Senate has passed this bill and urge the House of Representatives to bring it up and pass
it as quickly as possible. The current crisis in the credit markets stretches far beyond the mortgage industry and, if not
addressed, threatens Americans' ability to get business, auto and other types of loans and could drag down the entire U.S.
economy. The House needs to pass this bill and give the Treasury the ability to help unlock the credit markets and re-energize
our economy."
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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.