Attending the meeting with Bush were MBA president Andrew Woodward, chairman of Bank of America Mortgage; MBA president-elect James Murphy, chairman and CEO of New England Realty Resources; Tom Jacob, chairman and CEO of Chase Manhattan Mortgage Corp.; Shekar Narasimhan, managing director of Prudential Mortgage Capital Co.; and Jonathan Kempner, president of the National Multi Housing Council.
Woodward and other mortgage company leaders are part of a new group of mayors and business leaders called the Council for Investment in the New American City. The council also shared with the president the findings of a new survey of small businesses that show strong support for increased government investment in cities' overall development, including housing, transportation, skills training and crime prevention.
"There was a free-flowing exchange of ideas about how we can work together to extend assistance for housing opportunities, strengthen local economies and build healthy communities across the country," says Woodward. The new council is composed of the US Conference of Mayors, MBA, Countrywide Home Loans, Citigroup, American Management Services, US Filter, Freddie Mac and Fannie Mae.
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