NAMB responds to GSE stability measuresMortgagePress.comFannie Mae, Freddie Mac, Marc Savitt, GSEs, NAMB, conservatorship, U.S Treasurt, FHFA
The National Association of Mortgage Brokers has responded to
the announcement by U.S. Treasury Secretary Paulson and FHFA
Director Lockhart that the government will take control of the
government-sponsored enterprises (GSEs) Fannie Mae and Freddie
"Fannie Mae and Freddie Mac play a pivotal role in the housing
industry," said NAMB President Marc Savitt, CRMS. "NAMB applauds
the action taken by Secretary Paulson and Director Lockhart."
"This is a clear signal to consumers and Wall Street that
stability is returning to the secondary mortgage market," stated
Savitt. "Stability breeds confidence, which is the main ingredient
needed to turn the slumping housing market around."
"These measures will allow for the return of affordable mortgage
financing, which will renew the dream of homeownership for
consumers," continued Savitt.
The Treasury and the FHFA released several Fact Sheets outlining
next steps for Fannie Mae and Freddie Mac. Please click on the
links below for Fact Sheets and a statement by FHFA Director
GSE Mortgage-Backed Securities Purchase Program Fact Sheet
Government Sponsored Enterprise Credit Facility Fact Sheet
Treasury Senior Preferred Stock Purchase Agreement Fact
Statement by FHFA Director Lockhart
For more information, visit www.namb.org.