There's a need for more coordinated rulemaking activities among policymakers to ensure an even housing recovery, the Mortgage Bankers Association's newly elected 2013 Chairman Debra Still said.

Citing data from Housing and Urban Development Department Secretary Shaun Donovan, Still said "10% to 20% of qualified borrowers are not getting approved for loans. This is not acceptable."

Still, who serves as president and CEO of Pulte Mortgage (PHM), was officially named the MBA's 2013 chairman this week.

"If we look at the key drivers of tight credit — credit overlays and restricted lending — uncertainty is still a major factor," Still explained while speaking at the MBA's 99th Annual Convention and Expo.

Still reiterated MBA President David Stevens' push for more transparent and coordinated housing policies, but acknowledged challenges remain with Consumer Financial Protection Bureau guidelines yet to be released and ongoing fears over repurchase risk.

"Clearly, we are still in the penalty phase of the housing crisis," Still said. "This manifests itself in the form of continuing repurchases from the GSEs and extraordinary enforcement actions from the DOJ as well as the potential for enforcement from our new regulator the CFPB. At the same time we have entered the prevention phase of the housing crisis."

Still believes the next generation of homebuyers — the echo boomers or millenials — are now turning 30 and will soon be ready to buy, but warns regulatory confusion could delay purchases.

"Only by working together can we ensure that as new rules are developed, the regulatory pendulum does not swing too far," she said. "And with so many rules being written at one time, it is imperative that they be crafted carefully and in concert with each other.

If rulemaking is not pursued with a perfect balance, it will fail consumers in the most fundamental way."