Mortgage Bankers Association Turns the Corner Financially; As for that Old Office Building Debt…
September 10, 2015
The Mortgage Bankers Association ended its last fiscal year in the black with $7.7 million in net assets, a marked improvement from the negative $3.8 million it had when the year began. However, according to a review of MBA’s past tax returns by Inside Mortgage Finance, the trade group has its work cut out if it wants to return to the halcyon days before the housing bust when it boasted $63.3 million in net assets, a cushion that was depleted thanks to the industry’s downturn and a disastrous investment in a new headquarters building back in 2010. MBA officials continue...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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