HUD Will Maintain Housing Costs, Despite New Regulators

Posted in HUD Homes, August 31st, 2006 |

The U.S. Housing and Urban Development expressed Tuesday that the cost of housing would not change if Congress created a new regulator for Fannie Mae and Freddie Mac, as has been the talk around Washington D.C. HUD also expressed that the leaders of these two government-sponsored home loan enterprises are doing their best to help.

“HUD is supporting legislation that allows a regulator to limit the GSE’s portfolio to those investments necessary to carry out its mission, without trying to cripple or put it out of business,” Secretary Alphonso Jackson said in a speech to the National Association of Mortgage Brokers.

A GSE-reform bill was passed the House of Representatives last year and a different version was passed by the Senate Banking Committee. Neither side has been able to work out a compromise.

HUD also expressedthat they would soon propose new policies