Duncan said that the labor market remains strong nationally, however the devastating impacts of the hurricanes in the Gulf areas continue to negatively impact that region. Kurt Pfotenhauer, senior vice president for government affairs at MBA, said "some plan has to be in place to spur investment of private capital" in the Gulf region.
Other issues the MBA is emphasizing this year include the increase of mortgage fraud, pushing Congress to pass GSE Reform legislation and working toward preserving tax incentives to encourage community investment. MBA will seek $6.25 million in dedicated funding for 30 new FBI field investigators, two new dedicated prosecutors at the Department of Justice to coordinate prosecution efforts with the US Attorney's offices, and $750,000 to support the operations of FBI Interagency Task Forces in the areas with the 15 highest concentrations of mortgage fraud.
"Fraud against lenders is an issue that impacts every lender and takes a huge toll on the resources of lenders," said MBA chairman Regina M. Lowrie. She said some keys to combating mortgage fraud include stronger enforcement and better communication.
"We expect economic growth to remain solid in 2006, but we will begin to see below-trend growth for 2007," said Duncan. "Long-term rates, albeit rising, will remain relatively low, supporting residential and commercial real estate finance activity."
The group has developed an industry think tank--the Council to Shape Change--which will evaluate the forces and trends that shape the real estate finance industry to determine what the environment will look like in the future. The primary goal is to develop a strategic framework that will guide industry and company planning and development for the next decade.
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