Former Fannie Mae executive and critic of the government-sponsored enterprises’ credit-risk transfer programs, Tim Howard, said on his blog this week that CRTs only help “sustain what has become a very profitable program for Wall Street firms and capital market investors.”
The IRS recently formed a working group comprised of industry participants to address problems with the Income Verification Express Service, according to the Mortgage Bankers Association.
Hensarling is chairman of the House Financial Services Committee, which means any Fannie Mae/Freddie Mac reform bill must first go through his panel, whether he’s the author or not.