GSE Reform Needed Now, Coalition Says

Filed in Capitol Hill, Housing Finance, Leadership by on September 5, 2018 0 Comments
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NAHB has joined a coalition of 30 trade associations in the real estate, lending and home building industries to urge Congress and the Trump administration to lock in recent reforms to Fannie Mae and Freddie Mac and take the status of these GSEs out of limbo.

While changes put in place during the Great Recession “have better positioned the GSEs to continue to play a vital role in facilitating mortgage liquidity,” the reforms are still considered temporary, and “thus the stability of the housing market is more illusory than appearances may indicate,” the letter said. “There is a pressing need to ensure that existing progress is cemented rather than cast aside.”

Coalition members emphasized the importance of “consistent, affordable credit to borrowers across the nation . . . broadly availble through responsible lenders operating in the single-family and multifamily market.”

“Investors should feel confident that channeling long-term capital into the housing market is sustainable. Consumers should feel confident that they can obtain affordable mortgage credit and that they can secure decent housing that meets their needs, whether they rent or own.”

Read the entire letter here.

 

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