Fluid Political Climate Makes Legislation on Key Issues Uncertain, Mortgage Bankers Warn
May 25, 2006
A shifting political landscape has thrown control of Congress up for grabs, making it likely that key items on the industry’s agenda could remain unresolved in 2007. “The current political environment, if it were a market, would be termed ‘highly volatile’,” said Kurt Pfotenhauer, senior vice president for government affairs for the Mortgage Bankers Association, summing up the difficult legislative realities facing the industry during remarks at the trade group’s recent conference on nonprime and…
Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
The 10-year Treasury rate is declining and the possibility of a recession is growing.
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