Rep. Garrett gains support for housing-finance overhaul

11/4/2011 | AmericanBanker.com (free registration)

Rep. Scott Garrett, R-N.J., has proposed an overhaul of the housing-finance system that has received bipartisan support as well as a positive response from Edward DeMarco, acting director of the Federal Housing Finance Agency. Mr. DeMarco has been critical of proposals to unwind Fannie Mae and Freddie Mac, but he called Mr. Garrett's measure a "thoughtful approach to a framework that does not rely on a government guarantee."

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