September 28, 2018
The FHFA and the Future of Housing Finance Reform
Ten years after the financial crisis, Fannie Mae and Freddie Mack still linger in government conservatorship, yet congressional reform does not seem likely any time soon. Fannie and Freddie’s overseer, the Federal Housing Finance Administration (FHFA), will have a new director next year, and this leadership change provides an opportunity to consider how the FHFA could reform housing policy. A new piece by AAF’s Director of Financial Services Policy Thomas Wade discusses this prospect.
With current FHFA Director Mel Watt’s tenure coming to an end in January, the new leadership of the FHFA should use its authority for change, despite the lack of congressional action. In the absence of real GSE reform, a future FHFA should understand the limited role the GSEs were intended to play and act to limit their scope accordingly.
Read the entire piece here.