The Urban Institute advocates dropping the debt-to-income cap for qualified mortgages to level the playing field between the government-sponsored enterprises and the private market.
One housing lobbyist dismissed the bill as misguided, adding: “This is like someone laying on their death bed after drinking and sinning and finally realizing they need to get baptized.”
Almost 30 housing and mortgage-related organizations midweek issued an open letter to the White House and Congress, asking that policymakers make permanent several changes to operations of Fannie Mae and Freddie Mac, fearing that the “stability” of the U.S. housing market is “illusory.”
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