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Volume 2014 - Number 11

March 21, 2014

Johnson-Crapo GSE Reform Bill Has Options for Non-Agency Market, Incentives for FMIC Activity

Bipartisan mortgage-finance reform legislation from leaders in the Senate focuses on replacing Fannie Mae and Freddie Mac securitization programs with a new government MBS guaranty, but it also includes options for MBS issued outside the proposed agency-like structure. Sens. Tim Johnson, D-SD, and Mike Crapo, R-ID, this week revealed the text of their Housing Finance Reform and Taxpayer Protection Act, which may have little chance of passage this year but may be the starting point for reform in the next Congress. Johnson-Crapo would create...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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After the November elections, how long will it take for a new Congress and White House to pass GSE reform legislation?

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2 to 3 years. GSE reform is complicated.
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