MBA Suggests More Level Playing Field for Smaller Lenders

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Posted To: MND NewsWire

The third of five planned concept papers outlining recommended steps to ease the transition during secondary market reform was published today by the Mortgage Bankers Association (MBA). The paper, A Secondary Market that Works for Smaller Lenders, outlines steps that must be addressed for smaller lenders to be able to utilize the secondary market. PRICE CERTAINTY MBA says that one major concern has been the pricing advantage and other preferences given to some lenders which have contributed significantly to the consolidation of the lending market in recent years. Although the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac have claimed these disparities have narrowed, there is still a lack of transparency on pricing and underwriting concessions given to some lenders. MBA...(read more)

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Source: http://www.mortgagenewsdaily.com/06032013_gse_reform.asp

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