Last updated on: 2/5/2009 | Author: ProCon.org

Mortgage Bankers Association (MBA) Biography

Position:
Not Clearly Pro or Con to the question "Should the Government Allow Immigrants Who Are Here Illegally to Become US Citizens?"
Reasoning:

“It has never been illegal to originate U.S. mortgages to non-citizens and MBA continues to support this position. MBA opposes legislative or regulatory restrictions at the state or federal level that would unduly prohibit, or increase the risks of, providing homeownership financing opportunities for immigrants residing in the United States. Further, MBA does not support any local, state or federal legislative or regulatory restrictions that would impose requirements for mortgage lenders to determine the immigration status of borrowers possessing valid documentation for loan approvals.”

“Mortgage Lending to Immigrants in the United States,” www.mortgagebankers.org, Apr. 2007

Description:

“The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 500,000 people in virtually every community in the country. Headquartered in Washington, D.C., MBA invests in communities across the nation by ensuring the continued strength of the nation’s residential and commercial real estate markets; expanding homeownership and extending access to affordable housing to all Americans and supporting financial literacy efforts.”

“About MBA,” www.mortgagebankers.org (accessed Dec. 19, 2007)

Mission:

“The Mortgage Bankers Association seeks to create an environment that enables its members to invest in communities and achieve their business objectives. The association creates this environment by developing innovative business tools, educating and training industry professionals, providing a gathering place for the sharing of ideas, acting as the industry’s voice on legislative and regulatory issues, and developing open and fair standards and practices for the industry.”

“About MBA,” www.mortgagebankers.org (accessed Dec. 19, 2007)

Other:
Non-profit 501(c)(6)