Thursday, two bills were introduced by a bipartisan group of members on the House Financial Services Committee to lay the groundwork for housing finance reform next Congress — H.R. 6500, the Moving Housing Forward Act, introduced by Congressmen John K. Delaney (D-MD), John Carney (D-DE), and Jim Himes (D-CT) and H.R. 6487, the Taxpayer Protections and Market Access for Mortgage Finance Act introduced by Congressman Ed Royce (R-CA) and Congresswoman Gwen Moore (D-WI). Both proposals seek to address issues in housing finance through pilot programs at Fannie Mae and Freddie Mac.
“An all-of-the-above approach to credit risk transfers by the GSEs is critical, as we look for ways to decrease taxpayer exposure to future losses and maintain a stable housing market. Members of both sides of the aisle agree that the status quo of a housing market dominated by the federal government is unsustainable,” said Congressman Royce.
“Owning a home has long been a key part of the American Dream. If Congress isn’t ensuring access to affordable housing and a stable housing market, we are failing millions of middle class families,” said Congressman Delaney. “With the current difficulty millions of Americans face getting mortgages, it’s time for Congress to end …read more
Source:: U.S. Rep. Ed Royce