Senate undermines Obama--and the country--on housing

Article Highlights

  • It's time to start reducing Fannie and Freddie's footprints

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  • American taxpayers guarantee 95 percent of new mortgage loans made per month thanks to Fannie, Freddie and FHA

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  • The House should keep 5 policy points in mind on raising loan limits #GSEs

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Three years into the nationalization of housing finance by government-sponsored entities Fannie Mae, Freddie Mac, and the Federal Housing Authority (FHA), it is time to start reducing their footprints. This is not an easy task, for as Ronald Reagan observed in 1964, “A government bureau is the nearest thing to eternal life we’ll ever see on this earth.” The same might be said for temporary legislative enactments.

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Edward Pinto is a resident fellow at AEI

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Edward J.
Pinto

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