Home Builders Want Government Mortgage Backstop

NAHB (National Association of Home Builders) First Vice-chairman Barry Rutenberg says while the NAHB supports modernizing the nation’s housing finance system, it opposes several bills in the House and Senate that would end Fannie Mae and Freddie Mac without providing some type of government backstop.  He says, “Maintaining a continuing and appropriate level of government support is necessary to promote investor confidence and ensure liquidity and stability for homeownership and rental housing.”  The NAHB favors bipartisan bill H.R.1859, which would replace Fannie and Freddie with five private companies offering mortgages backed by the government.


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