NAHB onboard GSEs coalition
The National Association of Home Builders (NAHB) has joined a coalition of 30 trade associations in the real estate, lending, and home building industries that is urging Congress and the Trump administration to look into recent reforms to Fannie Mae and Freddie Mac
In a letter from the coalition to Congress and the Trump Administration, it said while changes put in place during the Great Recession “have better positioned the GSEs to continue to play a vital role in facilitating mortgage liquidity,” the reforms are still considered temporary, and “thus the stability of the housing market is more illusory than appearances may indicate,” the letter said. “There is a pressing need to ensure that existing progress is cemented rather than cast aside.”
Additionally, coalition members emphasized the importance of “consistent, affordable credit to borrowers across the nation . . . broadly available through responsible lenders operating in the single-family and multifamily market.”
“Investors should feel confident that channeling long-term capital into the housing market is sustainable. Consumers should feel confident that they can obtain affordable mortgage credit and that they can secure decent housing that meets their needs, whether they rent or own,” the letter reads.
In a letter from the coalition to Congress and the Trump Administration, it said while changes put in place during the Great Recession “have better positioned the GSEs to continue to play a vital role in facilitating mortgage liquidity,” the reforms are still considered temporary, and “thus the stability of the housing market is more illusory than appearances may indicate,” the letter said. “There is a pressing need to ensure that existing progress is cemented rather than cast aside.”
Additionally, coalition members emphasized the importance of “consistent, affordable credit to borrowers across the nation . . . broadly available through responsible lenders operating in the single-family and multifamily market.”
“Investors should feel confident that channeling long-term capital into the housing market is sustainable. Consumers should feel confident that they can obtain affordable mortgage credit and that they can secure decent housing that meets their needs, whether they rent or own,” the letter reads.