Industry stakeholders, policymakers, academic experts and financial regulators have been invited to the National Association of REALTORS® (NAR) Policy Forum in Washington, D.C. on Thursday.
As the U.S. Congress and the Federal Housing Finance Agency try to develop a plan to reform government-sponsored enterprises, NAR is bringing together some of the most engaged and influential figures in America’s housing finance system. NAR wants to ensure that Freddie Mac and Fannie Mae will continue to effectively assist taxpayers and the housing market after conservatorship.
“As the individuals most closely tied to the process of home buying and selling in America, REALTORS® believe strongly in the role Fannie and Freddie play in our housing market,” said NAR President John Smaby. “NAR and our members remain committed to ensuring the GSEs continue providing liquidity and stability in the mortgage market for decades to come. Next week’s forum will showcase NAR’s leadership to advance reforms that are most favorable to consumers, taxpayers and our overall economy.”
In the forum’s final session, Dr. Susan Wachter, Professor of Real Estate and Finance at the University of Pennsylvania, and Dr. Richard Cooperstein, head of Risk Management at Andrew Davison and Company, Inc., will unveil a new, comprehensive vision for GSE reform. This research is intended to provide a pragmatic, bipartisan solution that prioritizes and protects a liquid mortgage market for Middle America and underserved borrowers alike.
NAR Senior Vice President of Government Affairs Shannon McGahn said, “More than a decade has passed since the federal government assumed control of Fannie Mae and Freddie Mac. While the housing market today is in a significantly better state than it was before the financial crisis, NAR continues to urge policymakers to address challenges that could arise in future economic downturns. Our first-annual Policy Forum will move these discussions forward as REALTORS® remain a vocal and engaged advocate for housing finance reform legislation that will ensure a smooth transition out of conservatorship.”