Document Type
Article
Comments
This article predates the author's affiliation with Cornell Law School. A published version appeared in The Hill (April 6, 2017) under the title: "Congress May Have Finally Found a Bipartisan Fix to Fannie and Freddie."
Abstract
It is welcome news to hear that Senators Corker (R-TN) and Warner (D-VA) are looking to craft a bipartisan solution to the problem of Fannie Mae and Freddie Mac. The two massive mortgage companies have been in conservatorship since 2008 when they were on the verge of failing. At that time, nobody, just nobody, believed that they would still be in conservatorship ten years later.
Housing finance reform requires statesmanship because there are no short-term gains that will accrue to the politicians that lead it. And the long -term gains will be very diffuse – nobody will praise them for the crises that were averted by their actions to create a housing finance system fit for the 21st century. But this work is of great importance and far-thinking leaders on both sides of the aisle should support a solution that takes Fannie and Freddie out of the limbo of conservatorship.
Date of Authorship for this Version
4-2017
Keywords
Federal National Mortgage Association, Fannie Mae, Freddie Mac, Housing finance reform
Recommended Citation
Reiss, David J., "Is There a Bipartisan Fix for Fannie and Freddie?" (2017). Cornell Law Faculty Working Papers. 172.
https://scholarship.law.cornell.edu/clsops_papers/172