The Mortgage Bankers Association (MBA) today congratulated President Obama on his reelection, but implored the President to address the fragile state of housing in his upcoming term.
With a second term on the horizon for the Obama Administration, the MBA expressed their anticipation to continue work with the government on continued housing efforts. In addition to the work the administration has already done to protect borrowers from abusive lending practices, the MBA also urged the President to implement further vigilance toward federal and regulatory agencies.
“That is why we are renewing our call on the President to appoint a federal housing policy coordinator to act as a ‘traffic cop’, not to make rules and policies, but rather to ensure a coordinated housing policy where federal and regulatory agencies are effectively talking to each other as the rule-makings and policies are proposed and adopted in order to ensure that they complement each other,” MBA said in a statement.
Obama, who beat Republican candidate Mitt Romney in a near-even split popular vote, snagged 303 electoral votes to retain presidency. With four more years on the plate in front of him, the current economic state looms as a major issue for President Obama in his next four years.
“Economic growth must be an overarching goal of the President’s second term, and our industry is committed to being a productive partner with all policymakers to ensure that rules are put in place that will foster safe, sustainable investment in real estate,” concluded MBA.
Written by Jason Oliva