May 12, 2014

Watt speaks on GSEs' future at Brookings today

May 13, 2014 – Federal Housing Finance Agency Director Mel Watt will discuss the future of government-sponsored enterprises Fannie Mae and Freddie Mac during a speech today at the Brookings Institution.

Watt will speak on the agency's strategic plan for the coming year in dealing with the GSEs, which have been under FHFA conservatorship since 2008.

The Senate Banking Committee opened a mark-up of the housing finance reform measure authored by committee Chairman Tim Johnson, D-S.D., and Ranking Member Mike Crapo, R-Idaho, a few weeks ago, but it paused to allow panel members more time to review the measure. The committee, in a notice posted Monday, said it plans to resume mark-up Thursday.

The association has been in contact with Senate Banking members, other members of the House and Senate, the White House, Federal Housing Finance Agency and more to ensure that small institutions have equal, competitive access to the secondary mortgage market in any future housing finance system. It has meanwhile raised concerns about costs and uncertainty surrounding the proposed reforms. It has made several recommendations with other financial trade organizations to improve the discussion draft.

Today's remarks will be webcast beginning at 9:30 a.m. Eastern; registration is open. Watt will be followed by a panel of housing and consumer experts who will further discuss the housing market, the GSEs' role in the market and current housing reform legislation pending before Congress.