Sitting down with one of its own to get a better understanding of what exactly this election means for housing finance, the Mortgage Bankers Association’s Mike Sorohan sat down with President and CEO Dave Stevens to get his thoughts on the election.
It’s not outlandish to say this year’s election was one of the craziest, if not the craziest, in history.
Regardless of which side of the political aisle people fall on, there is now a Republican leader in charge of America, creating a giant shift in policy and enormous potential for major regulation changes.
When the news was first announced the MBA congratulated President-elect Donald Trump on his victory, but also outlined what the industry needs to see going forward.
“It is critical that President Trump focus on three main areas – ensuring an adequate supply of affordable housing, bringing first time homebuyers back into the housing market and ensuring certainty in regulations,” Stevens said.
Here’s the latest on what Stevens has to say:
"This election proved that literally every pollster and pundit was wrong. It clearly identified an anger in this country with what is viewed as status quo Washington, D.C. Now, we have President-Elect Trump. His transition team is quite busy and we are going to see this play out over the next few months."
Regardless of who won, Stevens emphasized that the MBA was ready:
"MBA was prepared for either outcome," he said. "We had MBA staff who personally bundled [raised funds] for Democrats and Republican candidates. During the election cycle we spent a lot of time with both the Trump and Clinton teams. The role we serve in those discussions is to let them know who we are and position ourselves as a source for information and data."
Overall Stevens stated:
"Regardless who you supported in this race, MBA will work closely with the new administration. The business of real estate finance is one that requires technical acumen, and MBA is the leading voice that represents all aspects of the industry. We are uniquely positioned to be a resource to the President-elect and his team so they can make the best decisions impacting our industry and the communities we serve. In the weeks ahead, this is where your MBA leadership team and staff will focus our efforts."