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Oppose Measures that would Reduce Access to Affordable Mortgage Loans

December 8, 2015
Mortgage Lending
Letters to Congress

We write you to express our concern with pending Senate legislation and recent statements by administration officials in both the U.S. Treasury Department and the White House. Specifically, the Jumpstart GSE Reform Act of 2015, and statements by Secretary Jack Lew, Counselor to Secretary Antonio Weiss, and Mr. Michael Stegman of the National Economic Council opposing greater administrative reforms of Fannie Mae and Freddie Mac—despite the inability of Congress to address the issue—would further jeopardize the delicate position of the GSEs and reduce access to affordable mortgage loans for credit-worthy Americans. We specifically oppose efforts to add the Jumpstart GSE Reform Act or other GSE-related riders to current appropriations bills. The provisions that have been proposed as riders would severely undercut, rather than advance, effective housing finance reform.