Thursday, August 13, 2015

How Republicans Would Destroy Fannie and Freddie if They Win the Presidency

How Republicans Would Destroy Fannie and Freddie if They Win the Presidency

https://timhoward717.files.wordpress.com/2015/08/how-republicans-would-destroy-fannie-and-freddie-if-they-win-the-presidency-final.pdf

Conclusion
Democrats have nearly everything they could possibly hope for in a housing finance system right now. Mortgage credit is required to be provided in line with actual demand across the income spectrum, underwriting standards force banks to offer the same terms to low-income and minority borrowers as are given to the wealthy, and billions of dollars are being provided to help ensure the availability of affordable housing for people in severe poverty. If a new housing finance system had to be created in Washington right now, Democrats couldn’t hope to get even a quarter of what they’ve got now, and even that would cost a serious price. It would be the height of recklessness to allow a vulnerable Fannie and Freddie to be given to a potential Republican president, yet the companies are still stuck in conservatorship, forbidden from rebuilding capital. The GSEs need to be released and recapitalized. As Al Sharpton put it in his recent defense of Fannie and Freddie, “This administration has the authority today, and the moral obligation, to take action while there’s a chance to save homes and provide families a pathway to homeownership. Before the disparities among Americans grow even starker. The time to act is now.”

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