ALTA Joins Letter Urging for Continued Focus on GSE Reform
September 21, 2017
ALTA joined 14 other groups in a letter urging the U.S. Department of the Treasury and the Federal Housing Finance Agency (FHFA) to continue working with Congress to end conservatorship of Fannie Mae and Freddie Mac through comprehensive, legislative reforms.
The letter, which was sent to U.S. Secretary of the Treasury Steven Mnuchin and FHFA Director Mel Watt, says that key structural changes must be implemented by Congress before a decision can be made regarding the government sponsored entities and capital retention.
“We urge Treasury, FHFA and Congress to remain focused on addressing the long-term housing finance reform efforts necessary to end GSE conservatorship permanently and create a stronger, stable system for the future that helps ensure all in America have access to affordable housing opportunities,” the letter states.
ALTA supports the following principles as part of the housing finance reform and restructuring process:
- ensure a national mortgage market that provides equal access to credit for all Americans
- help consumers with mortgage credit through standardization
- lower costs of providing credit to consumers; encourage liquidity through the secondary market
- provide market responsive regulation
- preserve the uniform standards currently provided by the GSEs, including title insurance, in a newly developed housing finance system
Contact ALTA at 202-296-3671 or communications@alta.org.