Protesters Descend on Mortgage Bankers Conference

Thousands of protestors were expected to rally outside the Mortgage Bankers Association conference in Chicago on Monday, October 10, in opposition to the “greed” of financial institutions.

The protesters, largely organized by coalition Take Back Chicago, said they expected 7,500 protesters across several Chicago sites at 4 pm Central time.

Beginning to gather Monday afternoon outside of the conference site in downtown Chicago, the protesters spoke for jobs and against wealthy banks and corporations.

The MBA, which has been a target of past protests, issued a statement Monday regarding the planned rally.

“America is about freedom of speech. We worry, however, that the focus of the protesters is about what isn’t working in this country, while inside this conference we are working on building a safe and sound system to support the dream of homeownership,” the MBA statement said.” We have more than 3,000 mortgage bankers coming here this week to look for solutions to the continuing troubles of the housing market.”

The MBA stressed the overall nature of the current economy and political climate, and the efforts of its members and attendees to work toward homeownership and credit availability.

“We all recognize that our industry faces a trust deficit with policymakers and the public and that people in our industry contributed to the events that led to the financial crisis. The mortgage professionals who have gathered in Chicago this week are about sustainable homeownership and ensuring access to affordable mortgage credit for qualified borrowers.”

RMD will be continuing coverage of the conference.

Written by Elizabeth Ecker

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