The National Association of REALTORS® (NAR), joined by the Mortgage Bankers Association, the National Association for Home Builders and the American Banker’s Association, recently submitted a letter to Treasury Secretary Mnuchin, opposing a “rushed effort to end the conservatorship of Fannie Mae and Freddie Mac.”
“We are concerned that other potential actions to release the GSEs from conservatorship without the necessary safeguards would undermine investor confidence, create volatility in the single-family and multifamily mortgage markets, and impede access to credit for consumer,” states the letter.
“A stable housing finance system is key to defending housing affordability and facilitating homeownership and rental housing opportunities. In particular, protecting access to credit is necessary for a healthy demand side of the market, and the inventory deficit cannot be improved without the long-term stability necessary to develop land and build homes,” the letter continues.
A full copy of the letter can be found here.
For more information, please visit www.nar.realtor.