Trade Groups Raise Warning on Stalled GSE Reform
September 22, 2017
A coalition of housing and real estate trade groups is ratcheting up pressure on the Trump Administration to ensure the government-sponsored enterprise (GSE) reform remains a priority.
In letters to Treasury Secretary Steve Mnuchin and Federal Housing Finance Agency Director Mel Watt, the trade groups expressed concern that GSE reform is being ignored on Capitol Hill. "We are increasingly concerned about efforts to derail comprehensive reform," the trade groups said in their letters, adding that Mnuchin and Watt needed to press ahead with their efforts to push GSE reform through Congress.
"As you both have made clear on numerous occasions, housing finance reform must go through Congress to create stable, sustainable housing markets that best serve our nation's communities," the trade groups added. "We fully endorse this point of view and believe the debate over recapitalizing a broken system distracts from the critical structural issues that Congress must address to ensure that the federally supported secondary market serves key, bipartisan objectives."
The trade groups signing the letter included the American Bankers Association, the American Land Title Association, the Asian American Real Estate Association; the Committee on Healthcare Financing, the Consumer Bankers Association, the Consumer Mortgage Coalition, Habitat for Humanity, the Housing Policy Council of the Financial Services Roundtable, the Mortgage Bankers Association, National Affordable Housing Management Association, the National Association of Hispanic Real Estate Professionals, the National Association of Home Builders, the National Association of Housing Cooperatives and the National Housing Conference Real Estate Services Providers Council Inc.
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