Lamenting the fact that the government-sponsored enterprises (GSEs) have remained under conservatorship for 10 years, House Financial Services Committee Chairman Jeb Hensarling (R-Texas) revealed a new bipartisan proposal for dramatic secondary market reforms at the outset of a hearing about the state of the housing finance system.
Hensarling stated that he believes their proposal also would preserve aspects of the current secondary market system which the industry favors. Multiple industry trade groups have expressed strong support for allowing the federal government to maintain a role in supporting the housing finance system.
Find out more about the proposal and the industry’s position.