Watt Says GSE Reform Differs from Housing Finance Reform

Posted To: MND NewsWire

The status of the GSE's (Fannie Mae and Freddie Mac), as well as the topic of housing finance reform continue to be "hot," according to Melvin L. Watt, Director of the GSE's conservator, the Federal Housing Finance Agency (FHFA). Watt spoke to the North Carolina Bankers Association at their annual convention in his home state. Watt elaborated on some of the points he made about these topics when he testified before the Senate Banking Committee earlier this month, drawing a distinction between decisions FHFA have made and continued to make and those that are the responsibility of Congress. Watt said he generally considers the former to be "GSE reforms" while viewing the latter as "housing finance reform." Watt reminded his audience that when he had last spoken to them right after taking his...(read more)

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