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STORY SUMMARY:
THIS IS A SPECIAL REPORT BROUGHT TO YOU BY THE NATIONAL ASSOCIATION OF HOME BUILDERS.
AT A TIME WHEN LAWMAKERS SEEM NOT TO AGREE ON ANYTHING, THERE IS BIPARTISAN SUPPORT TO START WINDING DOWN THE MORTGAGE GIANTS FANNIE MAE AND FREDDIE MAC, BOTH OF WHOM REMAIN UNDER GOVERNMENT CONTROL SINCE THE HEIGHT OF THE ECONOMIC MELTDOWN IN 2008.
NOW NEW LEGISLATION COMING UP IN THE SENATE AIMS AT LIMITING TAXPAYER EXPOSURE, WHILE TRYING TO CREATE A MORE SUSTAINABLE HOUSING FINANCE SYSTEM.
CO-SPONSORED BY DEMOCRATIC SENATOR TIM JOHNSON OF SOUTH DAKOTA AND REPUBLICAN SENATOR MIKE CRAPO OF IDAHO, THE BILL AIMS TO BRING BACK CONFIDENCE TO A HOUSING SYSTEM THAT'S BEEN SHROUDED IN UNCERTAINTY FOR CLOSE TO SIX YEARS.
HOUSING ECONOMIST DAVID CROWE EXPLAINS:
"Right now we're living in a situation in which mortgages are difficult to obtain. This legislation would give more clarity to the industry that supports the mortgage originations and therefore more clarity to individuals who are looking for a home."
ADVOCACY GROUPS ARE URGING THE PUBLIC TO CALL THEIR CONGRESSIONAL REPRESENTATIVES TO SUPPORT THE JOHNSON-CRAPO BILL BEFORE THE SENATE VOTES APRIL 29.
IN WASHINGTON, DC, I'M JEFF BANKERT FOR HOUSING NEWS.
AUDIO PROVIDED BY: NAHB
FOR STORY INFORMATION, PLEASE CALL: MultiVu Media Relations,1-800-653-5313, EXT. 3 OR EMAIL RADIO@MULTIVU.COM
/PRNewswire/ -- April 21, 2014/
SOURCE NAHB
