The task force was created to develop a proposal to “address the future” of the secondary market, “and in particular, an end-state model that can also fulfill an affordable housing/duty to serve mission,” according to an MBA release. The task force aims to complete its proposal by the end of 2016.
“A strong, sound secondary mortgage market is paramount to the overall success of the real estate finance industry,” said task force chair Roderigo Lopez, executive chairman of NorthMarq and chairman-elect of the MBA. “That is why it is of the utmost importance that policymakers and stakeholders create a strong and stable system that ensures liquidity, affordable mortgage credit and serves consumers.”
The task force is made up of representatives from MBA member companies, “representing a broad cross-section of the residential and multifamily real estate finance industries,” according to the MBA release.
The Mortgage Bankers Association has announced the creation of a task force to design the secondary mortgage market of the future.