Washington, D.C., September 5, 2019 – SIFMA issued the following statement from President and CEO Kenneth E. Bentsen, Jr. on the housing reform plan announced today:

“SIFMA appreciates the focus of the Department of Treasury, HUD, and the broader Administration on housing finance reform.  We believe an explicit government guarantee is necessary to ensure a stable supply of available mortgage credit. This is particularly critical to maintain 30-year mortgages.  Further, we believe it is essential to maintain the benefits of the to be announced (TBA) market, which provides mortgage borrowers the ability to lock in rates at low or no cost, as well as mitigates interest rate volatility risk.  We will continue to review the plan with our members.”

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SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s nearly 1 million employees, we advocate for legislation, regulation and business policy, affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit http://www.sifma.org.