WASHINGTON – Housing and Urban Development Secretary Andrew Cuomo today issued the following statement in response to the announcement by the Mortgage Bankers Association of America that Paul Reid is stepping down as Executive Vice President of the organization:

"Paul Reid has done an outstanding job of leading the Mortgage Bankers Association," Cuomo said. "Among his many achievements, Paul was instrumental in his fight to raise FHA loan limits, making it possible for hundreds of thousands of Americans to own homes for the first time. Paul has been an effective champion for expanding homeownership and he has also been a good friend to HUD, and I wish him well in future challenges."