The Mortgage Bankers Association (MBA) and the Financial Services Roundtable strongly oppose the bankruptcy "cramdown" deal Citigroup stuck Thursday with key Democratic senators.

"We remain opposed to bankruptcy cramdown legislation because of the destabilizing effect it will have on an already turbulent mortgage market," said MBA chairman David Kittle.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.