Session On GSEs, Housing And Risk-Taking Gets Nasty

Bergquist, Erick; Blackwell, Rob
March 2004
American Banker;3/15/2004, Vol. 169 Issue 50, p20
Trade Publication
The Thursday-evening panel at the National Community Reinvestment Coalition's annual conference saw mortgage industry U.S. lobbyists and representatives from the government-sponsored enterprises (GSEs) accusing each other of bad faith. It was ironic to hear lobbyists like Mike House, the executive director of FM Policy Focus, complain that Federal National Mortgage Association and Federal Home Loan Mortgage Corp. are playing it too safe. Anne Canfield, the president of the Consumer Mortgage Coalition, said the GSEs are no longer "leading" the industry in affordable housing. Rather, she said, it is the other way around. Federal National Mortgage Association officials argued that it was the leader in affordable-housing finance, while Michael F. Coffey, Federal Home Loan Mortgage Corp.'s vice president of expanding markets, said that debate missed the point.


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