MBA Reacts To FHFA And Treasury Amendments To The Preferred Stock Purchase Agreements
MBA’s President and CEO Bob Broeksmit, CMB, issued the following statement on today’s Federal Housing Finance Agency (FHFA) and U.S. Treasury amendments to the Preferred Stock Purchase Agreements (PSPAs):
“MBA believes strongly that any efforts to remove Fannie Mae and Freddie Mac (the GSEs) from their federal government conservatorships must fully consider the impact on single-family and multifamily housing markets and overall financial stability. This includes the critical move that Congress establishes an explicit federal backstop for mortgage-backed securities.
“Conservatorship was never intended to be perpetual, and we support efforts toward the GSEs’ release. We appreciate the rationale behind today’s changes to the PSPAs, which are designed to foster transparency across government agencies, share market impact analysis, and give appropriate time for market participants to provide feedback on proposed reforms.
“The GSEs are integral to homeownership and rental housing, and the transition to a post-conservatorship era must be done the right way with an ample timeline. MBA stands ready to work with the incoming Trump administration at the White House, Treasury Department, and FHFA — and also with the Congress — to ensure that happens.”
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