Page 29 - May-June 2018 GSE Report Flip Book

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system that serves homebuyers, fosters competition, and protects taxpayers.” -Ed DeMarco, President, HPC. (Press Release, Housing Policy Council, 06/21/18)
In a statement, the Community Home Lenders Association said:
CHLA applauds the Administration for its call to end the conservatorship
of Fannie Mae and Freddie Mac and to recapitalize and re-privatize them with an explicit government guarantee. However, CHLA continues to have significant concerns about adding GSE guarantors, which could facilitate vertical integration and hurt small lenders and consumers.CHLA also encourages the Administration to incorporate explicit policies of G Fee parity and banning volume discounts into their GSE reform proposals as they are developed, to protect those very same small lenders and consumers. (Press Release, Community Home Lenders Association, 06/21/18)
“MBA applauds the administration for releasing a proposal to reform Fannie Mae and Freddie Mac, which closely tracks with much of the work that has been done to date by policymakers on Capitol Hill,” said David H. Stevens, president and CEO of the Mortgage Bankers Association. “It includes many core principles that MBA has long advocated for, such as an explicit government guarantee on (mortgage-backed securities) only as a catastrophic backstop, allowing for multiple guarantors and ensuring small-lender access.” (Mortgage Professional America Magazine, Ryan Smith, 06/25/18)
“Unfortunately, the White House has not learned from history,” said Nikitra Bailey, Center for Responsible Lending EVP. “This proposal is a bull in a china shop that threatens to harm our recovering economy and exacerbate our affordable housing crisis. Congress should reject this misguided plan.” (Press Release, Center for Responsible Lending, 06/21/18)
“I understand the desire to tackle GSE reform,” said Jesse Van Tol, CEO of the National Community Reinvestment Coalition. “The enterprises are more profitable, more stable and better- regulated than at any point in history. But GSE reform without an affordable housing mandate is not reform, it’s a retreat. Homeownership is near a 50-year low, and the entire GOP policy agenda will make it harder for average Americans to build wealth for their families. It will be devastating for the working class. It will divide us even further.” (Mortgage Professional America Magazine, Ryan Smith, 06/25/18)
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