Industry Stakeholders Dive Into GSE Reform

Housing industry stakeholders will meet with policymakers and real estate professionals this Thursday, February 7, to discuss the future of housing finance and the future course for the GSEs at the first annual National Association of Realtors Policy Forum.

Discussion topics will include housing finance reform, lessons from the housing crisis, and the future of the GSEs. Speakers for the first annual Realtors Policy Forum will include Barney Frank, Former Chairman of the House Financial Services Committee; Jeb Hensarling, current Chairman of the House Financial Services Committee; Carolyn Maloney (D-New York), Chair of the House Financial Services Capital Markets Subcommittee; and Sean Duffy (R-Wisconsin), Ranking Member of the House Financial Services Subcommittee on Housing and Insurance.

Leaders from several housing industry groups, including the Mortgage Bankers Association, the American Bankers Association, and the National Association of Home Builders, also will participate in the one-day forum this Thursday.

Dr. Susan Wachter, Professor of Real Estate and Finance at the University of Pennsylvania and Dr. Richard Cooperstein, head of Risk Management at Andrew Davidson and Company, Inc., will present NAR’s approved solution for Fannie Mae and Freddie Mac.

The “bipartisan solution,” according to NAR, “prioritizes and protects a liquid mortgage market for Middle America and underserved borrowers alike.” NAR opposes other proposals that aim to recapitalize and then privatize Fannie and Freddie.

"More than a decade has passed since the federal government assumed control of Fannie Mae and Freddie Mac. While the housing market today is in a significantly better state than it was before the financial crisis, NAR continues to urge policymakers to address challenges that could arise in future economic downturns,” said Shannon McGahn, SVP of Government Affairs at NAR.

John Smaby, President of NAR said, “NAR and our members remain committed to ensuring the GSEs continue providing liquidity and stability in the mortgage market for decades to come.”