U.S. Treasury Secretary Timothy Geithner will present the Obama administration’s broad vision for the future of housing finance, including all private and public entities that support the mortgage market, to the Housing Financial Services Committee on Tuesday, March 23. In particular, Geithner is expected to focus on the restructuring of mortgage finance giants Fannie Mae and Freddie Mac, as well as Federal Home Loan Banks, and private lenders and securitizers. Geithner has indicated that specific legislative proposals will not come until 2011, but that his testimony before the House Financial Services Committee is the first of many steps to make changes to the existing housing finance system. Several active NH&RA members will also participate as witness panelists and offer testimony to the Committee on restructuring housing finance and the federal government’s role in the supply of affordable rental housing. Read More…
Fannie & Freddie