Government Sponsored Enterprise Reform
The legislation to reform Government Sponsored Enterprises (GSEs) has passed out of the House Financial Services Committee this year and would create a new regulatory structure for Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
A similar bill has been introduced in the Senate. In general, both legislative initiatives would abolish OFHEO and the Finance Board, and establish an independent agency to oversee the housing-related GSEs; enhance the safety and soundness, disclosure, and enforcement tools available to the new regulator; and establish budgetary autonomy of the new agency by exempting it from the annual federal appropriations process.
On GBA’s recent Washington Legislative Visit, our members emphasized that the organizational structure of the new regulator should include separate divisions for the Federal Home Loan Banks and the other two housing GSEs to ensure that the value and benefits of each are strengthened and not diminished.
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GBA's professional staff represents the membership at the both the state and federal levels. Contact any of them with questions about issues:
Joe Brannen,
President
Elizabeth Chandler, Senior Vice President - Government Relations
Don Browne, Legislative Consultant