The Mortgage Bankers Association has put together a task force to come up with the secondary mortgage market of the future—particularly a model that includes affordable housing and a “duty to serve” mission.
“A strong, sound secondary mortgage market is paramount to the overall success of the real estate finance industry,” says Rodrigo Lopez, chairman of NorthMarq Capital Finance and head of MBA’s task force.
The MBA said the task force is a “broad cross-section” of multifamily and residential professionals, HousingWire reports.
The secondary market—e.g. CMBS—has been trying to figure itself out since the financial crisis, with regulators imposing safeguards like new capital requirements to try and prevent another meltdown.
The MBA task force plans to have a vision by the end of the year for how the new secondary market should look. [HousingWire]
