With the 10-year anniversary of the government taking Fannie Mae and Freddie Mac into conservatorship nigh upon us, a coalition of the housing industry’s largest trade groups, affordable housing advocates, and others is calling on the Trump administration and Congress to enact permanent reforms to the government-sponsored enterprises.
In a letter signed by the Mortgage Bankers Association, the National Multifamily Housing Council, the National Association of Realtors, the United States Conference of Mayors, and more than two dozen others, the groups write that many of the GSE reforms enacted after the housing crisis have served to stabilize the housing market, but the groups worry that the newfound stability could be undone without a permanent solution.
“Reforms put in place during conservatorship have better positioned the GSEs to continue to play a vital role in facilitating mortgage liquidity. Such reforms include pricing parity across lenders, the transfer of risk off of taxpayer shoulders, a new infrastructure for the single-family secondary market, and support for strong and sustained liquidity in the multifamily rental market,” the groups write.
Read more in Housing Wire.