Replies to post #79795 on Fannie Mae-No Politics (FNMA)

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Rep. Mel Watt’s Testimony to Senate Banking Cmte for FHFA Director
Posted by lauren victoria burke on June 27, 2013 at 9:56 AM

http://www.crewof42.com/featured/rep-mel-watts-testimony-for-senate-banking-cmte-for-fhfa-director/

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The headline is not representative of the article

headline

Obama's housing pick endorses abolishing Fannie, Freddie

the headline does represent the article


FNMA....Thu Jun 27, 2013 4:35pm EDT


Watt told the Senate Banking Committee the current system was ripe for reform and that there was work to do to "find the right path out of a status quo that no one believes is desirable."

He welcomed a bipartisan effort by some committee members who introduced a bill earlier this week to replace Fannie Mae and Freddie Mac with a government reinsurer of mortgage securities that would backstop private capital."The good news is that a broad consensus has emerged on the direction that our next steps must take us - towards a system driven by private capital that minimizes the risk to taxpayers," said Watt, a member of the House of Representatives Financial Services Committee.

If confirmed by the full Senate, Watt would become an influential voice on the future of Fannie Mae and Freddie Mac.





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