MBA's GSE Reform Idea: A Clone Army of Fannies and Freddies

Posted To: MND NewsWire

Calling it the final piece of unfinished business from the financial crisis, the Mortgage Bankers Association (MBA) has published a paper with its recommendation for comprehensive reform of Fannie Mae and Freddie Mac (the GSEs). The Association says that over the years, various proposals introduced in the House and Senate, while producing useful discussion, all stumbled for a variety of reasons including fear of exacerbating the impact of credit or economic cycles or perceived lack of a sufficient affordable housing strategy. MBA says Congress needs to act because only a legislative solution can provide political legitimacy and long-term market certainty for the housing finance system. This includes the need to reinforce reforms the GSEs and their conservator and regulator the Federal Housing...(read more)

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