On Oct. 29, 2013, NAR President Gary Thomas testified at a U.S. Senate Banking Committee hearing entitled, "Housing Finance Reform: Essentials of a Functioning Housing Finance System for Consumers." As Congress looks to reform the secondary mortgage market, Mr. Thomas urged lawmakers to ensure that mortgage capital is available and affordable for creditworthy consumers in all markets and under all economic conditions. Mr. Thomas stressed to lawmakers that this objective can only be acheived through a secondary mortgage market upheld by an explicit government guarantee, which should ensure the availability of the 30-year fixed-rate mortgage.
NAR Testifies on GSE Reform
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