SIFMA welcomes proposed housing legislation

07/15/2013 | Housing Wire

Legislation from House Committee and Financial Services Chairman Jeb Hensarling, R-Texas, seeks to wind down Fannie Mae and Freddie Mac, and reform the housing finance system. "We agree with Chairman Hensarling's fundamental premise that private capital must play a significantly larger role than it does in today's market," said former Sen. Judd Gregg, CEO of SIFMA, and SIFMA President Kenneth Bentsen. "SIFMA also applauds the inclusion of provisions that halt the use of eminent domain to seize mortgages from Main Street investors, as this would have an unprecedented and damaging effect on private efforts to support housing finance..." Read SIFMA's statement.

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