The Housing Policy Council (HPC) recently released its GSE Reform Proposal to reform and strengthen the housing finance system by moving beyond the current government sponsored enterprises, Fannie Mae and Freddie Mac, with new privately capitalized institutions that will support housing finance for American consumers in the future. The conference on the future of housing finance, held this morning at the Treasury Department, is a positive step forward.
“Our overall goal is to maintain consistent affordable access to 30-year fixed rate mortgages and other prudent mortgage loans in a way that minimizes taxpayer exposure and returns private capital to the secondary market,” said John Dalton, President of the Housing Policy Council.
Steve Bartlett, President for the Financial Services Roundtable added, “Our proposal seeks to create a fundamentally sound private system, with some government backing – only at the mortgage-backed securities level- and with strong regulation and a contribution to affordable housing.”
The Roundtable and HPC urge Treasury to continue work on this important issue.
The HPC proposal is available online at: http://tinyurl.com/24glvrl
The Roundtable’s Housing Policy Council is made up of twenty-six companies that are among the nation’s leaders in mortgage finance. Member companies originate seventy-five percent of the mortgages for American home buyers. Member companies participate in the Council through the senior mortgage executive in their company