NAR submitted comments to the FHFA on its notice of proposed rule making for how the FHFA will review new products and activities offered by the Enterprises.
The proposed rule:
- Defines what the GSEs must do to demonstrate whether a new activity or product merits reporting to the FHFA, and
- Outlines what data/facts the enterprise must share with the FHFA to justify their ability to take on the action/product.
NAR commented on an earlier proposed rule in 2009 that was never finalized.
NAR's new comments incorporate some of the earlier comments and add two additional points. NAR recommends action to reduce the burden on the GSEs and companies with whom they collaborate, while protecting investors interest (and the incentive to invest in innovations) and maintaining the regulator’s ability to limit dangerous activity.