Rep. Frank To GSE Reformers: See You In September!

Posted by Orb Staff on July 20, 2010 No Comments
Categories : Residential Mortgage

arney Frank, D-Mass., chairman of the House Financial Services Committee, has announced that he will begin holding hearings in September on the future of the government-sponsored enterprises (GSEs). Frank told [link=http://www.thesunchronicle.com/articles/2010/07/20/news/7705004.txt]The Sun Chronicle[/link], a daily newspaper in Attleboro, Mass., that he is opposed to eliminating the GSEs because of their importance in financing affordable housing and multi-family housing. However, he stated that he does not want to see a continuation of the traditional GSE structure, where the entities are privately owned but government sponsored. The Obama administration previously stated that it would not focus on GSE reform until 2011. GSE reform was not included in the 2,300-page Dodd-Frank Wall Street Reform and Consumer Protection Act, despite attempts by several Republican lawmakers to address the issue within the legislation. SOURCE: The Sun Ch

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