HousingWire: What’s next for Johnson-Crapo? Industry reacts positively; opponents say it’s DOAHousing Wire
May 18, 2014
The Senate Committee on Banking, Housing, and Urban Affairs passed to the floor the Housing Finance Reform and Taxpayer Protection Act, commonly known as Johnson-Crapo, by a 13-9 vote Thursday morning.
Johnson-Crapo, supporters say, would reform the U.S. housing finance system by winding down Fannie Mae and Freddie Mac and replacing them with a new system in which private capital would be in a first-loss position prior to a catastrophic government guarantee being made available.
Read the full article at HousingWire.com.