NAR Letters Urges FHFA Director, Reform with Caution

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Posted To: MND NewsWire

We can only guess at what the new director of the Federal Housing Finance Agency (FHFA) told members of the National Association of Realtors® (NAR) last month, but it certainly provoked a response. The Association sent a letter to Mark Calabria on Monday urging him basically not to make changes to the system for the sake of making them. The letter, signed by current NAR President John Smaby, thanked the director, who was sworn in on April 15, for "sharing your thoughts on your new role," apparently in a speech to the group in mid-May. However, it took issue with some potential reforms of the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, primarily those that might prematurely shrink the GSE footprint . Smaby said the NAR believes FHFA must allow Freddie Mac and Fannie...(read more)

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