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Robyn Erlenbush, Broker/Owner of ERA Landmark Real Estate, recently attended the National Association of Realtors®’ Housing Finance Reform Policy Forum in Washington DC on February 7, 2019. NAR unveiled a new vision for reforming the GSEs. The term GSE’s refers to Government-Sponsored Enterprises like Fannie Mae and Freddie Mac.
The panel was titled “NAR’s vision: A plan for secondary finance shaped in the aftermath of adversity for longevity,” co-authors Dr. Susan Wachter, Professor of Real Estate and Finance at the University of Pennsylvania, and Dr. Richard Cooperstein, head of Risk Management at Andrew Davison and Company, presented NAR’s comprehensive GSE proposal to the public for the first time.
NAR’s research is intended to provide a pragmatic solution to the challenges facing the housing finance system by prioritizing and protecting a liquid mortgage market for Middle America and underserved borrowers alike. NAR’s vision offers policymakers a responsible framework that protects taxpayers, minimizes costs to consumers and promotes housing accessibility and affordability.
During the panel discussion, co-author Richard Cooperstein noted, “By addressing the imperfections in the market for housing finance, we can increase competition of private capital to invest in mortgages, keep markets more stable in times of stress and stay mission-focused.”
Co-author Susan Wachter added, “GSE reform is the critical, unfinished business of the Great Recession; we believe the shareholder-owned regulated utility we propose will protect taxpayers and ensure the fulfillment of the mission to serve the nation for the future.”
For more information on the National Association of Realtors®’ vision for housing finance reform click here.