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News from 2022

Should Fannie, Freddie Invest More in Underserved Markets?

A newly formed group of big-name housing advocates—calling themselves the Underserved Mortgage Market Coalition—have called on Fannie, Freddie, and the Federal Housing Finance Agency (FHFA) to be more transparent about their plans and more aggressive about how they will pursue that mission going forward. “Amid a housing affordability crisis that requires bold and aggressive action, Fannie Mae and Freddie Mac have set forth plans that fail to effectively reach those not served or not served well by the conventional mortgage market” the coalition’s members wrote in a letter to FHFA Acting Director Sandra L. Thompson.

New York’s eviction moratorium has expired

David Dworkin at the National Housing Conference says it was always intended to be a short-term fix. “The moratorium has prevented what could have been a devastating wave of evictions during the worst phase of the pandemic,” Dworkin said. But he says it has also cost landlords billions of dollars.

FHFA to GSEs: Back to the drawing board on Duty to Serve

David Dworkin, president of the National Housing Conference, said the rejection is a great opportunity for GSEs to develop a robust plan that “stretches their capabilities.” “The GSEs’ obligations to serve underserved markets can be much more robust, and these plans don’t do that,” he said.

4 questions about FDIC’s leadership limbo

The broader political picture for the FDIC after the Biden administration is even murkier. Some analysts say that McWilliams’ resignation could mark a new era of partisan-style governance at the agency. “At some point,” said David Dworkin, president and CEO of the National Housing Conference, “we’re going to have to ask ourselves: How tied to the political pendulum do we want our regulatory agencies to be, particularly when it swings back hard and fast?”

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