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Reform Bill Would Wind Down GSEs, Boost Ginnie Mae Role

The 114th Congress’s
first attempt at housing financial reform legislation hit the House hopper on
Thursday. The bill, H.R. 1491 establishes an insurance program through Ginnie
Mae
and winds down Fannie Mae
and Freddie Mac and allows them to be sold and recapitalized. 

The legislation is sponsored
by John K. Delaney (D-MD). John D. Carney (D-DE), and James A. Himes (D-CT),
all members of the House Financial Services Committee and currently has 10
cosponsors.  Tagged as The Partnership to Strengthen Homeownership
Act,
text of the bill is not yet
available on the Thomas-Library of Congress website, but is apparently similar
if not identical
to one introduced by the trio in the last Congress (H.R. 5055)
which never made it out of committee.

…(read more)

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