Statement of Bob Broeksmit on Confirmation of Mark Calabria to be Director of the FHFA

CONTACT
Rob Van Raaphorst
rvanraaphorst@mba.org
(202) 557- 2799

WASHINGTON, D.C. (April 4, 2019) - Statement of Robert D. Broeksmit, CMB, President and CEO of the Mortgage Bankers Association (MBA), on the Senate confirmation of Mark Calabria to be Director of the Federal Housing Finance Agency.

"MBA applauds the Senate for confirming Mark Calabria to be the next Director of the Federal Housing Finance Agency (FHFA). His knowledge and experience will serve him well as he takes over this dynamic agency at such a critical time. Fannie Mae and Freddie Mac have been in conservatorship for more than a decade and, it's well past time that policymakers address the long-term future of these enterprises. As both administrative and legislative reforms move forward, it is important that the regulator and Congress support ongoing liquidity and stability, and ensure that the private market is capable of sustaining an expanded role before steps are taken to modify the GSEs' footprint.  

"With his deep policy background and relationships in both the legislative and executive branches, we believe that Dr. Calabria is well positioned to provide strong leadership at FHFA.  We look forward to working with him to identify workable solutions that establish a housing finance system that protects taxpayers, allows equal access to lenders of all sizes and business models, and ensures a liquid and stable mortgage market for single-family and multifamily loans.

"We congratulate Dr. Calabria on his confirmation."