Senators Renew Bipartisan Push to Reform GSEs

Bloomberg reports that aides to Senators Mark Warner (D-VA) and Bob Corker (R-TN) have begun meeting with industry groups and former government officials to discuss ideas to reform Fannie Mae and Freddie Mac. The pair initially introduced a bill in 2014 that would have wound down the GSEs and ended their current status as wards of the state, while also creating the framework for a new housing finance system. While their bipartisan bill ultimately failed to garner the necessary support, it helped form the basis of what some see as the starting point for compromise on GSE reform. Senate Banking Chair Mike Crapo (R-ID) later co-sponsored a bipartisan GSE reform bill with former Ranking Member Tim Johnson (D-SD) that contained some similarities to the Corker-Warner Bill, though it too ultimately failed to make it out of the Senate.

The article continues that President Trump's administration has called housing finance reform "a priority", but hasn't given an indication of where it wants to go, or how their priorities may interact with legislative efforts. It also states that a bill sponsored by Senators Corker and Warner is not imminent, and that Chairman Crapo may take the lead on GSE reform legislation. "Housing finance reform is a high priority for myself and the American people," Crapo said in a statement to Bloomberg. He stated that he is working with all members of the committee "to get the process started to reach a bipartisan solution for our broken housing finance system."

As policy makers and legislators chart a path for the future of the GSEs, SFIG will continue to provide market-informed feedback to policy makers to position SFIG as the go-to source for industry knowledge and experience. SFIG will proactively develop and promote strategies to advocate for a return of private capital to the secondary mortgage market.

Sign Up for Our Newsletter


Connect with SFIG
LinkedIn logo
Join us on LinkedIn >
Twitter logo
Follow us on Twitter >
Wilmington ad

Quick Search

Advanced Search
Terms and Conditions | Privacy Policy