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PRESS RELEASE

For Immediate Release
Contact: (202) 589-2427

Roundtable’s Housing Policy Council Working with Chairman Frank on
FHA Housing Stabilization Bill

Washington, D.C. – April 23, 2008 –The Financial Services Roundtable’s Housing Policy Council looks forward to working with Chairman Barney Frank (D-MA) on the FHA Housing Stabilization and Homeownership Retention Act (H.R. 5830), to stabilize the housing market.

“There is no single solution to resolve all the issues facing homeowners and the markets at this time,” said John H. Dalton, President of the Housing Policy Council. “We want to work with Chairman Frank, the Committee, and the Administration to produce a program that provides a cost-effective tool for helping at-risk homeowners, protects the interests of the taxpayer, and helps stabilize the housing market. This legislation can play a role in that effort.”

The Housing Policy Council will continue to work with Congress and the
Administration to find additional solutions to assist homeowners, stabilize the market, and help ensure the availability of mortgage credit to American consumers.

Please click here (www.fsround.org/media/pdfs/fhabill.pdf) for the full statement.

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The Roundtable's Housing Policy Council is made up of twenty-four companies that are among the nation's leaders in mortgage finance. Member companies originate sixty-five percent of the mortgages for American home buyers. Member companies participate in the Council through the senior mortgage executive in their company. The Roundtable and the Housing Policy Council have partnered with other industry leaders to form HOPE NOW. HOPE NOW is an alliance between counselors, mortgage market participants, and mortgage servicers to create a unified, coordinated plan to reach and help as many homeowners as possible.
Roundtable member companies provide fuel for America's economic engine, accounting directly for $66.1 trillion in managed assets, $1.1 trillion in revenue, and 2.5 million jobs.