Washington Report

Advocacy Updates from Washington D.C.

NAR Testifies Before House Subcommittee

On November 2, 2017, Kevin Brown, broker of Better Homes Realty, testified on behalf of NAR at the U.S. House Financial Services Subcommittee on Housing & Insurance hearing entitled "Sustainable Housing Finance: Private Sector Perspectives on Housing Finance Reform, Part II." The purpose of the hearing was to discuss ways to reform the current housing finance system.

In his testimony, Mr. Brown told Congress that in order to shield taxpayers and ensure a steady flow of capital into the mortgage market in both good times and bad, lawmakers should convert the Enterprises (Fannie Mae and Freddie Mac) into government-chartered, nonshareholder owned authorities that are subject to tighter regulations on products, profitability, and minimal retained portfolio practices in a way that ensures the protection of taxpayer monies.

View the Congressional Hearing