MBA Statement on the Federal Reserve’s Announcement to Support Commercial Mortgage Markets

CONTACT
Adam DeSanctis
adesanctis@mba.org
(202) 557-2727

WASHINGTON, D.C. (April 9, 2020) - MBA President and CEO Robert D. Broeksmit, CMB, released the following statement regarding the Federal Reserve's announcement this morning to increase the scale and scope of its mortgage-backed securities (MBS) purchases to include outstanding non-agency commercial MBS.

"MBA applauds the Federal Reserve for announcing its intent to include outstanding private-label CMBS AAA securities in its Term Asset-Backed Securities Loan Facility (TALF) program, which was re-established on March 23 to provide more liquidity to securities markets.

"This decision protects borrowers by stabilizing commercial mortgage markets more broadly and helps ensure lenders can continue to finance properties - particularly in small and mid-sized markets across the country, where numerous small businesses employ millions of Americans. 

"MBA looks forward to continuing to work with all policymakers and stakeholders, including Congress and the administration, to help borrowers, lenders, and mortgage servicers during the pandemic."