Like you, I am concerned about how future home buyers will be able to affordably finance the largest investment of their lives their new home. I want you to be aware that Congress is beginning to look at possible reforms in housing finance. I am certain you realize whatever changes Congress and the President ultimately agree on regarding reforms or the future of Fannie Mae and Freddie Mac (also known as Government Sponsored Enterprises or GSE) will impact our business. Specifically if Congress goes too far, the reforms could hurt buyers, sellers, our industry and our company.
The National Association of Realtors® (NAR) recognizes that the existing system failed and that changes are needed to protect taxpayers from an open-ended bailout. However, NAR also believes that there must be a certain level of government participation to provide creditworthy households access to affordable mortgages at all times and in all markets.
I encourage you to take a few minutes to acquaint yourself with the issues that are coming at our industry on reforms to home financing. This critical public policy discussion will affect every one of us in the sales and purchase of homes. I have included some useful links that will help you understand what is being discussed and where things may head. Thank you for taking the time to learn about this important matter.
Below are links to:
- White House report: "Reforming America's Housing Finance Market"
- NAR's Press Release regarding the Administration's Report
- NAR's talking points for GSE reform
You may wish to save this email for the links or bookmark specific links for future reference. Please refer to the Home Ownership Matters page on REALTOR.org to see the activity the association is undertaking on this issue to ensure that the America's home buyers and sellers, as well as the housing industry, are well represented and accounted for in this most important conversation.
NAR has experts who can also provide you with additional information on the issues:
- Tony Hutchinson 202-383-1120
- Jeff Lischer 202-383-1117
- Ken Trepeta 202-383-1294
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