NAR submits statement on housing finance reform

NAR submits statement on housing finance reform
On June 29, the U.S. Senate Committee on Banking, Housing & Urban Affairs held its first hearing of the year on housing finance reform. The hearing, entitled “Principles of Housing Finance Reform,” consisted of three witnesses from the Mortgage Bankers Association, Housing Policy Counsel of the Financial Services Roundtable, and Center for Responsible Lending. NAR submitted a statement recommending that any new housing finance system must ensure that mortgage capital will always remain available for creditworthy Americans. Second, NAR stated that taxpayer dollars should be protected. Furthermore, in order to shield taxpayers and ensure a steady flow of capital into the mortgage market in both good times and bad, NAR urged lawmakers to convert Fannie Mae and Freddie Mac into government-chartered, non-shareholder-owned authorities.
Source: nar.realtor; 6/29/2017

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