SAN DIEGO, Calif. /California Newswire/ — On behalf of its network of lenders, David G. Kittle, CMB, president and vice chairman, The Mortgage Collaborative, has issued the following statement on the Mortgage Bankers Association’s (MBA) release of its GSE Reform proposal, “GSE Reform: Creating a Sustainable, More Vibrant Secondary Mortgage Market”:
“The issue of GSE reform is critically important for the independent mortgage banks, community banks and credit unions that today originate more than 3 out of every 4 home loans in the country,” said Kittle. “The MBA’s reform proposal recognizes the value of a competitive and diverse primary market, and calls for important reforms that will provide stable liquidity for the 30-year fixed mortgage and preserve a level playing field for smaller lenders.
“Guarantee fees based on loan quality not volume, and a new structure that encourages increased private capital flow into the primary market are all central elements to the MBA plan and key principles for the members of The Mortgage Collaborative,” Kittle said.
The Mortgage Collaborative network is more than 100 lenders strong, with an annual origination volume of $156 billion. The network caters to lenders of all sizes, with the majority of members generating between $500 million and $2 billion in originations annually.
About The Mortgage Collaborative:
Based in San Diego, The Mortgage Collaborative was founded in 2013 to empower mortgage lenders across the country with better financial execution, reduced costs, enhanced expertise, improved compliance, and to help its members access the dynamic and changing consumer base in America. The association is managed by its founding members: John Robbins, CMB; David Kittle, CMB; Gary Acosta, CEO of the National Association of Hispanic Real Estate Professionals (NAHREP); and Jim Park, former chair of the Asian Real Estate Association of America (AREAA). Robbins and Kittle are former chairmen of the Mortgage Bankers Association of America (MBA). For more information, visit: http://www.mortgagecollaborative.com/.