NAR responds to proposals to reduce government’s role in the mortgage market

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Following a hearing of the House Financial Services Subcommittee to debate the future of the government-sponsored enterprises, Fannie Mae and Freddie Mac, the National Association of REALTORS (NAR) released a statement welcoming the Obama Administration's call for an orderly transition from the current form of the secondary mortgage market to a new structure that would enable Americans to achieve affordable, sustainable mortgages.

NAR encourages private sector participation in less traditional mortgages in innovative ways, such as through covered bonds. However, NAR opposes raising fees for current well-qualified consumers to cover losses stemming from mistakes made in the private business decisions of the agencies.

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New York State Association of REALTORS®, Inc.
130 Washington Avenue, Albany, NY 12210
Phone: 518.463.0300 Fax: 518.462.5474
www.nysar.com

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