WASHINGTON (February 1, 2019) – On February 7, dozens of industry stakeholders and hundreds of invested attendees will gather for the National Association of Realtors®' first-annual Policy Forum at the Grand Hyatt in Washington. As Congress and the Federal Housing Finance Agency work to develop a framework for GSE reform, NAR will bring together some of the most engaged and influential figures in America's housing finance system. The nation's largest trade association, with its 1.3 million members, remains a leader in pursuing reforms that will ensure Fannie Mae and Freddie Mac can effectively serve taxpayers and the U.S. housing market after conservatorship.
"As the individuals most closely tied to the process of home buying and selling in America, Realtors® believe strongly in the role Fannie and Freddie play in our housing market," said NAR President John Smaby, a second-generation Realtor® from Edina, Minnesota and broker at Edina Realty. "NAR and our members remain committed to ensuring the GSEs continue providing liquidity and stability in the mortgage market for decades to come. Next week's forum will showcase NAR's leadership to advance reforms that are most favorable to consumers, taxpayers and our overall economy."
NAR's Policy Forum will allow hundreds of industry stakeholders, policymakers, academic experts and financial regulators to evaluate the opportunities and challenges facing the housing finance system in the coming years. Panels will focus on industry efforts to advance housing finance reform, critical lessons learned from the housing crisis and innovative solutions for the future role of the GSEs.
In the forum's final session, Dr. Susan Wachter, Professor of Real Estate and Finance at the University of Pennsylvania, and Dr. Richard Cooperstein, head of Risk Management at Andrew Davison and Company, Inc., will unveil a new, comprehensive vision for GSE reform. This research is intended to provide a pragmatic, bipartisan solution that prioritizes and protects a liquid mortgage market for Middle America and underserved borrowers alike. Unlike a recapitalization and release plan, NAR's vision offers policymakers a responsible proposal that protects taxpayers, minimizes costs to consumers and promotes housing accessibility and affordability across America.
"More than a decade has passed since the federal government assumed control of Fannie Mae and Freddie Mac. While the housing market today is in a significantly better state than it was before the financial crisis, NAR continues to urge policymakers to address challenges that could arise in future economic downturns. Our first-annual Policy Forum will move these discussions forward as Realtors® remain a vocal and engaged advocate for housing finance reform legislation that will ensure a smooth transition out of conservatorship," said NAR Senior Vice President of Government Affairs Shannon McGahn.
The National Association of Realtors® is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.