Fannie Mae-No Politics (FNMA)

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I love it.

'Sen. Mark Warner (D-Va.), a lead co-sponsor of the Senate's bipartisan effort to overhaul mortgage giants Fannie Mae and Freddie Mac, called the House measure an "ideologically pure exercise that will never have a single Democrat support it." The comment led bill-partner Sen. Bob Corker (R-Tenn.) to jokingly scoot his chair away from Warner during a housing event at the Bipartisan Policy Commission.

Warner gave House Financial Services Committee Chairman Jeb Hensarling (R-Texas) credit for an "exercise that lays out a coherent approach" but hammered a stake into the heart of the GOP-crafted measure. He is not expecting the plan to gain any traction outside of House panel because it "upends" the housing finance system by ending the government guarantee and the 30-year fixed-rate mortgage.'


Read more: http://thehill.com/blogs/on-the-money/1091-housing/311645-warner-deems-houses-mortgage-finance-bill-doa#ixzz2ZJxLOVZK