WASHINGTON: House Republican Conference Chairman Jeb Hensarling (R-Texas) today released the following statement on the Administration’s report on Housing Finance Reform.
“While I am pleased by the Administration’s issuance of a report on the GSEs and the future of housing finance, I don’t confuse ‘reports’ with ‘plans.’ The Administration’s report offers several options for long-term housing finance reform, the first of which would transition to a very limited role for the taxpayer in housing finance, similar to my own proposal for reform. I hope that the Administration chooses to pursue that particular path.
“I am flattered that the Administration has included in their report several components of legislation that I have been advancing since 2008 and plan to reintroduce in this Congress. There is only one option for housing finance reform that it acceptable – ending the taxpayer funded bailouts at Fannie and Freddie, and returning to a competitive housing market.
“I am hopeful that this report will move the GSE debate from ‘if’ to ‘when and how’ we transition the taxpayer out of the secondary mortgage market.”