APARTMENT ADVOCATE
APARTMENT ADVOCATE
NATIONAL APARTMENT ASSOCIATION / NATIONAL MULTIFAMILY HOUSING COUNCIL
As Lawmakers Debate GSE Reform , NAA / NMHC Highlight Multifamily Principles
GSE reform has emerged as one of the most significant , and difficult , policy issues lawmakers are debating in 2018 . Since the GSEs were put into conservatorship almost 10 years ago , housing finance reform has been an ongoing debate . But , efforts to reform the housing system have not been successful , although renewed reform efforts are happening on a number of fronts .
The Trump administration , Chairmen Crapo ( R-ID ) and Hensarling ( R-TX ) have listed housing finance reform as a top priority . Senators Mark Warner ( D-VA ) and Bob Corker ( R-TN ) are working to craft a bipartisan proposal that they hope will serve as the basis of the proposal that Chairman Crapo would consider . In sharp contrast to his previous legislative proposal , Hensarling has conceded that any reform effort will have to include some type of government guarantee and is working to craft a new housing finance reform proposal . Federal Housing Finance Agency Director Mel Watt recently weighed in when he sent a document to Senate Banking Committee Chairman Crapo ( R-ID ) and Ranking Member Sherrod Brown ( D-OH ) that describes the FHFA ’ s views about housing finance reform .
NAA / NMHC continue our multi-year strategy aimed at educating lawmakers and stakeholders on the unique characteristics of the multifamily industry . In November 2017 GID ’ s Bob DeWitt testified before the House Financial Services Subcommittee on Housing and Insurance to stress the importance of maintaining access to an explicit , paid-for federal guarantee for multifamily-backed mortgage securities . As Congress seeks to address the problems largely specific to the
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