FOR IMMEDIATE RELEASE
October 13, 2016
Responds to FHFA Request for Input
Washington, D.C. — The Financial Services Roundtable’s Housing Policy Council (HPC) supports the development and expansion of a variety of GSE credit risk transfer transactions, it noted in a comment letter to the Federal Housing Finance Agency’s (FHFA) in a request for comment. HPC’s letter submitted today notes that testing and expanding all types of credit risk transfer programs with the private sector will help protect taxpayers, serve consumers and help provide needed information for proceeding with broader housing finance reform.
“HPC has long been a proponent of broader housing finance reform because the current framework is unsustainable,” said John Dalton, President of the Housing Policy Council. “Credit risk transfers help facilitate reform by identifying the risk and price the private sector will absorb and the risk that must remain with the government. Absent broader legislative reform, a solid program to test all types of credit risk transfers is very important to creating a stronger housing finance system that protects taxpayers, facilitates more private sector involvement and preserves consumer access to a 30-year fixed rate mortgage.”
You can view HPC’s comment letter HERE.
FSR’s HPC consists of thirty-three of the leading national mortgage finance companies. HPC members originate, service, and insure mortgages for consumers across the nation. HPC’s mission is to promote the mortgage and housing marketplace interests of member companies in legislative, regulatory and judicial forums.
The Financial Services Roundtable represents the largest integrated financial services companies providing banking, insurance, payment and investment products and services to the American consumer. Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO. FSR member companies provide fuel for America’s economic engine, accounting for $92.7 trillion in managed assets, $1.2 trillion in revenue, and 2.3 million jobs. Learn more at FSRoundtable.org.