According to the Wall Street Journal the Federal Housing Finance Agency is trying to move forward with reforms to Fannie Mae and Freddie Mac despite a decided lack of direction from Capitol Hill:
Fannie and Freddie’s overseer, the Federal Housing Finance Agency, is contemplating new structures to hopefully prepare markets for whatever changes may ultimately come the mortgage giants’ way. Its latest thinking, detailed in a paper released Tuesday, talks, among other things, about creating a single, utility-like platform for selling mortgages to investors.
This could help lead to the creation of a single government mortgage-backed security. Along with other moves under way to standardize mortgage data and improve transparency, this could help prepare for a return to securitization markets that sell bonds with no or only a partial government guarantee.
Obviously there’s a lot of interest in “Frannie’s” fate from the apartment industry, and during next month’s NAA Capitol Conference leaders from the industry will be sharing their concerns with our elected representatives. If you would like to participate there’s still time to register; simply visit the registration page and sign yourself up. This will be a pivotal year for the apartment industry so it’s important that they hear from as many industry leaders as possible.