Thursday, October 13, 2011

Protesters Target MBA Annual Convention

A small group of protesters targeted the Mortgage Bankers Association's 98th Annual Convention & Expo and held a brief demonstration outside of the Hyatt Regency Hotel, the site of the convention, on Monday October 10th.

The protests were peacefule and did not disrupt the actual convention; a few individuals joined the Second General Session and posed questions during a Q/A segment involving CEOs of several mortgage lending companies. The protests are believed to be part of a larder series of demonstrations that have targeted Wall Street and other financial centers in recent weeks.

MBA released a statement yesterday in response to the protests:
"America is about freedom of speech. We worry, however, that the focus of the protesters is about what isn't working in this country, while inside this conference we are working on building a sage and sound system to support the dream of homeownership. We have more than 3.000 mortgage bankers coming here this week to look for solutions to the continuing troubles of the housing market.

We all recognize that our industry faces a trust deficit with policymakers and the public and that people in our industry contributed to the events that led to the financial crisis. The mortgage professionals who have gathered in Chicago this week are about sustainable homeownership and ensuring to affordable mortgage credit for qualified borrowers."

*courtest of MBA NewsLink

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