Subscribe to the print edition of National Mortgage Professional MagazineSubscribe to our RSS feedFollow us on TwitterGet daily updates via emailJoin us on Facebook

FSR Supports Senate Banking Committee's Housing Reform Goals

Congress Pic/Credit: Comstock

The Financial Services Roundtable has applauded the U.S. Senate Banking Committee leadership and the committee staff for their continued efforts to produce and release comprehensive housing finance reform legislation. FSR and its affiliate, the Housing Policy Council, sent a letter to committee Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) urging the committee to produce bipartisan legislation as soon as possible.

"The Financial Services Roundtable and its Housing Policy Council support action on legislation to reform the housing finance market,” said FSR CEO Tim Pawlenty to both Sens. Johnson and Crapo. "We encourage you to continue your very positive efforts to produce bipartisan legislation for the Senate Banking Committee to consider as soon as possible."

The Senate Banking Committee leaders said in a joint statement that they are making progress on drafting their bipartisan bill, which would ensure "a level playing field for all lenders and access to credit for all creditworthy homebuyers, no matter where they live."

FSR and HPC advocate for the passage of legislation that would reform the secondary mortgage market by gradually winding down Government Sponsored Enterprises Fannie Mae and Freddie Mac. The GSEs would be replaced with a private capital-based secondary mortgage market with a last resort government backstop and overseen by a strong independent federal regulatory agency. This new system would provide protection to taxpayers and make the American Dream of homeownership possible for more Americans.

Do you need to stay on top of mortgage industry news and trends?

We can HELP! We will send you a daily email with the latest headlines with free access to the full articles. And NO, we will not Spam you, sell your email address or otherwise abuse the trust you have by giving us when you provide us with your email. Sign up here to get on our list.

The Staff at National Mortgage Professional Magazine

he hottest mortgage industry headlines, featured articles and others mission critical mortgage industry stories delivered to my email inbox each day. 

My email address is . I am located in the state of  (state you are located).