Politicians and regulators need to get with the times — for the sake of the housing market and its participants.
That message served as the guidepost for David Stevens’ remarks at the Mortgage Bankers Association’s National Secondary Market Conference in New York this week. Stevens, president and CEO of the MBA and the former commissioner of the Federal Housing Administration, did not pull punches in calling out the United States government for its role in the current predicaments faced by lenders and would-be homebuyers alike.
Stevens made a general argument about accountability, contrasting the work done by the mortgage industry in the wake of the recession and meltdown with the inaction on the part of government officials.
“Regulators and enforcement agencies must own their role in the pace and path of recovery,” he said in prepared remarks released Monday. “Today’s environment is not encouraging credit expansion. It’s […]
