MBA's Quinn: We Look Forward to Working with Preston

Kieran P. Quinn, CMB, Chairman of the Mortgage Bankers Association (MBA) commended today's White House announcement that President Bush intends to nominate Steven Preston, currently Administrator of the Small Business Administration (SBA) to be the next Secretary of Housing and Urban Development.

Quinn issued the following statement:

'I want to thank the President for moving quickly to replace the outgoing HUD secretary. At SBA, Mr. Preston has demonstrated that he has a strong understanding of the role that the government can play in helping businesses succeed and build stronger communities.

'Mr. Preston will have a number of important projects to complete at HUD. We look forward to working with him on efforts to stabilize the housing market and help at-risk borrowers. With a short period of time remaining and a lot of work to be done, I hope the Senate will confirm Mr. Preston quickly.'