Release Date: February 25, 2013
Contact: Andrew DeSouza, 202.962.7390, email@example.com
SIFMA Statement on BPC Housing Commission Recommendations
Washington, DC, February 25, 2013—SIFMA today released the following statement from Kenneth E. Bentsen, Jr., acting president and CEO, in response to the Bipartisan Policy Center Housing Commission’s recommendations to reform our housing finance system.
“Reforming our nation’s housing finance system is critical to long-term economic growth. We are pleased the bi-partisan Commission’s comprehensive plan to restore housing and housing finance recognizes the complex and holistic nature of the industry. The Housing Commission’s recommendations add significant and noteworthy policy proposals to the ongoing debate among the Administration, Congressional leaders and other stakeholders.
“While there is no single right answer to housing finance reform, an important part of reform is resolving the matter of the GSE’s and reducing the taxpayer liability, while at the same time returning private capital and getting securitization started again.
“We are pleased that the Commission’s recommendations include recognizing the importance of the ‘to be announced’ market. The TBA market is one of the key components of a successful, liquid, affordable and national mortgage market, and SIFMA believes it is critical to preserve. The Commission also recognizes the need for increased participation of private capital in mortgage markets, and the need for a careful transition from our current system to any future state.
“SIFMA, along with its members, will be further analyzing the Commission’s recommendations and work constructively with the Commission, the Administration, Congress and other key stakeholders to find a bi-partisan, workable solution to reforming our housing finance system.”
The Securities Industry and Financial Markets Association (SIFMA) brings together the shared interests of hundreds of securities firms, banks and asset managers. SIFMA's mission is to support a strong financial industry, investor opportunity, capital formation, job creation and economic growth, while building trust and confidence in the financial markets. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit http://www.sifma.org.