MBA Commends Inclusion of Jumpstart GSE Reform Provision in Spending Bill
|Rob Van Raaphorst|
|(202) 557- 2799
WASHINGTON, D.C. (December 16, 2015) - David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association (MBA), issued the following statement regarding the inclusion of the Jumpstart GSE reform provision within the year-end spending bill, which would prevent the administration from selling off its stake in Fannie Mae and Freddie Mac (the GSEs) without congressional approval.
"MBA applauds the bipartisan agreement to include specific portions of the GSE Jumpstart Reform Act within the spending bill. This provision protects the GSEs from potential immediate disruption that could result from a new administration in 2017, regardless of which party wins the White House. It also reinforces the desire by many policymakers, supported by most housing stakeholders, to enact structural GSE reform before Fannie Mae and Freddie Mac can be released from conservatorship. "At the same time, however, we are disappointed that the final bill does not restrict the use of Fannie Mae and Freddie Mac's guarantee fees (g-fees), for general spending purposes. This is a critical issue for potential homeowners and the housing market, and one on which we will continue fighting."