Fed Reserve Council Suggests GSE Reform Include Home Counseling
November 17, 2017
The Federal Reserve Board’s Community Advisory Council and the Board of Governors said the current mortgage finance system doesn’t provide fair access to large segments of the population.They also noted that there’s a critical need to resolve the ongoing conservatorship. Members of the two groups held their semiannual joint meeting earlier this month and discussed the need to reform the housing finance market so that low to -moderate income borrowers aren’t left out.The council talked about the need to disaggregate economic data to understand the disparities that exist in mortgage lending, especially among minority groups.
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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