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GSE Reform Legislation Languishes in Shadow of Elections.(Mortgage Bankers Association)(Brief article)
Chicago -- The clock is ticking on legislation to regulate Fannie Mae and Freddie Mac, the Mortgage Bankers Association warned here last week.
Worried that only a few months are left before lawmakers plan to return to their home districts for the November elections, the MBA's chief lobbyist, Kurt Pfotenhauer, said the now-or-never point is rapidly approaching in the effort to create a new, more powerful regulator.
"If GSE reform is going to go forward, action has to be taken soon," Mr. Pfotenhauer told a press briefing at MBA's National Secondary Market Conference.
Two issues stand in the way of passage, according to an MBA briefing paper. One is the size of the portfolios Fannie Mae and Freddie Mac would be allowed to hold, while the other concerns the creation of affordable housing funds paid for by fees imposed on the two secondary mortgage market institutions.
The MBA opposes the creation ...
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Source: HighBeam Research, GSE Reform Legislation Languishes in Shadow of Elections.(Mortgage...