Finance: NAHB Supports GSE's Recovery Initiatives
The National Association of Home Builders (NAHB) expressed support for steps recently announced by Fannie Mae to address severe problems in the nation’s housing finance system.
“Fannie Mae is demonstrating the leadership expected of a government-sponsored enterprise with the rollout of its Keys to Recovery Initiatives and commitment to raise additional capital to support those and other responses to mortgage market challenges,” said NAHB President Sandy Dunn, a home builder from Point Pleasant, W.Va.
The Keys to Recovery Initiatives are a series of new programs designed to increase liquidity and stability in the mortgage and housing markets.
Fannie Mae’s decision to utilize the temporary increase in conforming loan limits to purchase jumbo-conforming mortgages under the same pricing structure accorded portfolio purchases of regular conforming loans will help home buyers in high-priced markets.
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