On March 23, NAR Vice President and Liaison to Government Affairs, Vince Malta (who is also an FPC to House Speaker Nancy Pelosi), testified before the House Financial Services Committee on the restructuring of Government-sponsored Enterprises (GSE) Fannie Mae and Freddie Mac.  He stated that the GSEs should be restructured as government-chartered, non-shareholder owned authorities.  He also said that a restructured authority would continue to ensure flow of capital into the mortgage market during all fluctuations of the nation’s economy.  He shared NAR’s proposal for reform with the Committee and cautioned them and the Administration to be measured as they look at changing the GSEs.

More information on Mr. Malta’s testimony and the GSE issue, including a complete list of the recommendations, can be found on REALTOR.org: http://www.realtor.org/government_affairs/gapublic/gses.