Member News - Mortgage Bankers Association of Maine
TO: Board of Directors; RESBOG; COMBOG; MBA Legion; Multifamily Steering Committee; Washington Reps; MBA Residential Committees; State MBA Leaders
FROM: Steve O'Connor, MBA SVP Government Affairs
DATE: February 1, 2010
SUBJECT: Summary of Housing Provisions in the President's Budget
In order to keep you informed about the federal government's activities pertaining to mortgage credit, I am sharing with you an MBA-developed summary of the key provisions of the President's budget request for fiscal year 2011, which was submitted to Congress today. The proposed budget, which covers October 1, 2010 through September 30, 2011 (FY 2011), is the President's request for how the government should be run for that period. Congress will use this document as a basis for much of its debate this year as it legislates financial services regulatory reform, considers the long-term viability of FHA and other initiatives. The budget does not, however, propose a plan for Fannie Mae and Freddie Mac to exit government conservatorship. MBA will continue to focus the administration and Congress toward bolstering support for the housing finance system as well as MBA's other member priorities in the fiscal year ahead.
FY 2011 Budget Request Housing Highlights 2-1-10.pdf