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NAHB Seeks Member Input on Housing Finance Reform
With Congress gearing up to consider restructuring the housing-related government sponsored enterprises (GSEs) Fannie Mae, Freddie Mac and the Federal Home Loan Banks, NAHB is now seeking input from association members on reforming the housing finance system.
Both Fannie Mae and Freddie Mac are now in conservatorship and the housing finance market remains in turmoil.
To provide a perspective on the possibilities for GSE reform and to educate home builders and others about what could be in store for the housing finance market, NAHB held a groundbreaking Webcast on Oct. 27 in which numerous proposals for revamping the GSEs’ regulatory structure were discussed.
The possibilities range from complete privatization of the entities, to complete government control, to a public-private combination that’s somewhere in between.
To familiarize themselves with the issue, NAHB members can go to the Webcast link above, where they will also find various related materials, or click here to read a related story in Nation’s Building News.
Upcoming changes to the regulatory structure of the housing-related GSEs could substantially impact the availability and financing costs of home mortgages. This issue could very well determine the resilience of today’s fragile housing recovery as well as the future stability of the market.
NAHB is encouraging members to provide responses to the following questions so that it can accurately present industry views in its upcoming lobbying efforts in Congress:
- What is the appropriate role for the federal government in support of the primary and secondary mortgage market? Should the government implicitly or explicitly guaranty obligations of the GSEs? Should there be any guaranty at all?
- What is the appropriate structure for the secondary mortgage market to ensure a reliable supply of affordable and available mortgage credit?
- Should the role and function of the Federal Home Loan Banks be altered as Congress considers changes to the role and structure of Fannie Mae and Freddie Mac?
Responses should be e-mailed to Chellie Hamecs at NAHB (mhamecs@nahb.org); for more information, call her at 800-368-5242 x8425.
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