MBA Statement on the Confirmation of Scott Bessent as Treasury Secretary

WASHINGTON, D.C. (January 27, 2025) — MBA's President and CEO Bob Broeksmit, CMB, released the following statement on Scott Bessent’s confirmation to serve as the next Secretary of the Treasury:

"MBA appreciates the swift confirmation process and bipartisan support that Scott Bessent received to be the next Treasury Secretary. We congratulate him on his confirmation, and our members stand ready to work with him and his staff on commonsense policies that grow the economy and strengthen our nation’s single-family and commercial and multifamily real estate markets.

“We recognize that the Treasury has several key issues to address early on, including the tax policy and reconciliation debate. MBA will work with Treasury and Congress to help pass legislation that extends key, expiring provisions of the Tax Cuts and Jobs Act, particularly those that impact consumers and support continued investment in housing and communities.

“MBA is also looking forward to engaging with Secretary Bessent and his staff, and with the Federal Housing Finance Agency and Congress, to develop a thoughtful plan to end the conservatorships of Fannie Mae and Freddie Mac (GSEs) in a way that avoids any market disruption or increased costs for borrowers. We look forward to hearing more from Secretary Bessent on his plans for the GSEs, and we stress that any release must include an explicit federal backstop of the GSEs’ mortgage-backed securities to protect both consumers and our housing finance system.”