Waters wants mortgage industry to fund Fannie, Freddie guarantees
Waters believes her government guarantee idea on Fannie Mae and Freddie Mac bonds will be key to accomplishing this goal. Further she wants to see this happen without costing the taxpayer a dime. Instead, the mortgage industry will pay.
"Next week, I will be discussing a proposal with Democratic members of the Financial Services Committee to reform the GSEs, which takes into consideration the changes in the marketplace since the crisis," Waters said in a statement. "This proposal will preserve the affordable 30-year, fixed rate mortgage and provide an explicit government guarantee that is paid for by industry."