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Elizabeth Warren, allies may kill Johnson-Crapo

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Mortgage Professional America | 09 May 2014, 10:50 AM Agree 0
Six key Democrats, including Sen. Elizabeth Warren, have refused to support a bill that would wind down Fannie Mae and Freddie Mac
  • Joel Epstein | | 09 May 2014, 11:06 AM Agree 0
    Thank you Sen Warren. The best thing the government can do is release the GSE's from bondage. Put some safe guards in there to avoid a repeat of 2008 and let them do what they do best. Provide private capital and liquidity in the market place.
  • Jeff Bode | | 09 May 2014, 11:15 AM Agree 0
    I am glad the Democrats have been able to bring some sense into the housing sector. The Republicans solution was let the big banks do this and charge what they want without competition.
  • Nathan Sims | | 09 May 2014, 11:59 AM Agree 0
    A viable housing market is essential to America's economic strength and growth. Key elements to home ownership for the average American are reasonable down-payments, low interest rates and 30 year fixed mortgages. Fannie and Freddie have contributed greatly toward making this happen. They no doubt need some major overhaul but I hope our Senate and House leaders don't through out the baby with the bath water.
  • Debbie Logan | | 09 May 2014, 12:03 PM Agree 0
    Some bills deserve to die. This is one that needs to die or be reworked to where it truly addresses affordable housing and has true stopgaps to target the greedy folks who created the 2008 debacle. Thank you Senator Warren etal
  • Cheryl M | | 09 May 2014, 12:30 PM Agree 0
    So true Debbie Logan! I'm not ever a supporter of Elizabeth Warren; but this bill does not meet what needs to be done for affordable housing. This bill even has a 3.5% down payment for first time homebuyers. Not helping. How about lower down payments requirements and let's see interest rate in the two's. We may eventually see lesser rate of foreclosure in this market too.
  • Paul S | | 09 May 2014, 04:00 PM Agree 0
    Certainly affordable housing and low to moderate income qualified buyers must be protected. The current market is lagging from a significant drop of first time home buyers from 40% to mid 20% of all buyers. However little or no buyer investment is counter intuitive to reducing foreclosures. I question whether <3.5% down or 2.5% rates, can attract investors to a stable mortgage financing market with lower ROI while qualifying buyers with questionable readiness to be home owners.
  • Ken Leatherbarrow | | 10 May 2014, 10:16 AM Agree 0
    Jeff Bode: Democrats are good, Republicans are evil?? Have you never heard of Glass-Steagal?
  • Lee in CA | | 12 May 2014, 04:06 PM Agree 0
    It is funny how our politics sway with what impacts our pocket books. Although I can see the value of creating a "new" entity (idealistically), I don't believe that it is the best answer for our current market place. We can all pretend it is for the greater good and that we would be in favor of affordable housing options for low income borrowers "if" we didn't benefit from it at all, but that does not ring true. This forum has never been altruistic and probably never will be. The bottom line is that replacing Fannie and Freddie in an emerging securities market could easily destabilize mortgage backed securities. Maybe Fannie and Freddie should go away at some point, but it certainly isn't today.
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