MBA Leads Inter-Industry Call to Eliminate Ginnie Mae, FHA and RHS Fee-Hike Proposals
March 9, 2006
A coalition of industry trade groups is lobbying intensely to kill proposals in the FY 2007 federal budget that would significantly increase certain fees on new businesses under the Ginnie Mae, FHA multifamily, and federal rural housing programs. Spearheaded by the Mortgage Bankers Association, the coalition bombarded Congress and the Bush administration with letters warning that the proposed fee hikes represented new taxes on homeowners and renters. The Bond Market Association, Consumer Mortgage Coalition, Financial… [One data table included]
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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