This week, NAR’s Executive Vice President and Chief Advocacy Officer Shannon McGahan and Ken Fears, director of conventional finance and valuation policy, took part in two roundtables on reform of Fannie Mae and Freddie Mac (the GSEs). The events took place at the US Treasury and at the Federal Housing Finance Agency.
The Trump administration has signaled its intent to release the GSEs from their conservatorship, which has raised concern about the impact on mortgage rates and availability of mortgage credit. NAR’s team stressed the importance of the 30-year fixed-rate mortgage as well as maintaining the availability of affordable mortgages in all markets, and at all times. They advocated transitioning the GSEs to private market utilities to ensure they continue to support the market as they have under conservatorship. NAR’s position and additional materials are available on the landing page for NAR’s Principles for Housing Finance Reform.