Articles by David Stevens

[Pulse] Op-ed: The next steps for GSEs

Policymakers, handle this with care
If indeed we are weeks away from a plan for overhauling the GSEs, there is currently no telling what this might entail, leaving stakeholders to project onto the future whatever their hopes and fears might lead them to. The administration needs to clarify its position, and sooner rather than later. Signaling movement in the absence of any clear sense of direction comes at too high a cost for a market that shouldn't have to bear it.
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MBA CEO David Stevens: Fair lending for the future homebuyer

Critically understanding the data
[Expert commentary] Recently, Reveal News wrote a story lobbing accusations at some banks and mortgage firms of engaging in discriminatory lending practices. Addressing concerns around discrimination is important and this discussion around the issue is long-standing as the nation works to meet the housing needs of American families. Therefore, publishing factual, complete data is critical so the topic can be discussed based on the merit of the facts and without bias.
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David Stevens: Here's the MBA view on GSE reform

What to do about Fannie, Freddie, and even Ginnie
[Expert commentary] In an exclusive guest post, Mortgage Bankers Association President and CEO David Stevens presents the MBA's view on the "right" reform plan for Fannie Mae, Freddie Mac, and Ginnie Mae. How much should the government be involved in the mortgage market? Stevens presents the MBA case.
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The False Claims Act has no place in housing

Stop its use or lose FHA lenders
[Expert commentary] To be clear, we need a well-regulated lending industry to protect taxpayers, homebuyers, and communities. This is a good thing. But the use of False Claims Act is an inappropriate and harmful response that only reduces access to credit for qualified borrowers. It’s time to stop this.
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Now is the time — Make housing reform a priority

Exclusive op-ed from the president of the MBA
Today, MBA is releasing a plan detailing how a future secondary mortgage market can work – describing a post-conservator end state for Fannie Mae and Freddie Mac. Our proposal includes transition steps detailing how to get from here to there and is the only paper that comprehensively addresses how the reformed secondary market would serve all Americans along the broad continuum of affordable housing needs.
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The math behind the need for GSE reform

MBA CEO: This unfinished work 'looms over our nation'
The calls to allow the GSEs to rebuild capital amplify an important issue and are based on valid and reasoned concerns that we all share. Unfortunately allowing them to just recapitalize is simply not a mathematical possibility.
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MBA's Stevens: Time for a clarification on Fannie, Freddie reform

Protecting GSE role in housing supersedes profit-focused shareholders
Right now, Fannie Mae and Freddie Mac are providing liquidity in the secondary market for residential mortgage in the absence of private capital. The unbalanced dependence here puts the entire system on untenable ground and presents enormous risks to taxpayers.
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