Obama Speech Calls for U.S. Housing System Overhaul

January 28, 2014
mortgage lending news
Under a theme of economic growth that defined Tuesday night's State of the Union address, President Obama reiterated his commitment to re-inventing the nation's housing-finance system.

The White House believes that government participation in the market is necessary to preserve easy access to the long-term, fixed mortgage rates that prop up the market and make homeownership affordable for middle-class Americans; but the administration would like to see Washington's role scaled down and that of private capital stepped up. "Send me legislation that protects taxpayers from footing the bill for a housing crisis ever again, and keeps the dream of homeownership alive," Obama urged Congress during his speech. "The most important investment families make is their home."

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