National Association of REALTORS® On Restructuring FANNIE MAE and FREDDIE MAC

March 20, 2011 by lourie

Since the White House called for the phasing out of FANNIE MAE and FREDDIE MAC last month with 3 proposals on how such a task could be accomplished, Congress is responding with their own versions…none of which, at this point, seem to be hitting the mark…nor are any of them likely to fly with bi-partisan agreement…no surprise!  The latest was introduced by Rep. Jeb Hensarling, R-Texas.  Hensarling’s bill calls for eliminating the government’s role in Fannie Mae and Freddie Mac and the mortgage market. It also calls for the maximum size of loans across the country backed by Fannie and Freddie to drop to $417,000; loans, in general, currently range from $417,000 to $729,750.

Source: “Hensarling Unveils US Bill to Wind Down Fannie, Freddie.” Dow Jones Internation News (March 17, 2001)

To read more on the National Association of REALTORS® position: 

NAR’s Position on GSE Reform

 


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