Positivity permeated the grand ballroom of Cleveland’s Marriott at Key Center hotel as Bill Cosgrove, vice chairman of the Mortgage Bankers Association (MBA) and the chief executive officer of Union Home Mortgage Corp, kicked off the 2013 National Settlement Services Summit. As the housing market continues to improve, it’s becoming a key component to pulling the country out of the recession. While housing numbers are encouraging, Cosgrove cautioned that we need to ensure we have the proper mortgage industry structure in place as we continue through the “year of implementation.”

“Everyone in this room is in an extraordinary position,” Cosgrove said, commanding the conference stage as the opening keynote speaker. “We touch every part of this rebounding marketplace. Together, we all contribute to one entire economic and social infrastructure. The U.S. housing market remains one of the few bright spots in the U.S. economy today. Home sales continue on an upward trend and purchase applications are showing year-to-year growth. With the positive growth in the market place, it’s now the time for all of us – industry leaders, policy makers, consumer advocates – to come together and find a solution that supports a vibrant housing system.”

Cosgrove advocated the creation of a new primary and secondary mortgage market structure that looks beyond the recent government-sponsored enterprises earnings statement and conservativeness to one that plans for the best interests of both consumers and industry professionals.