NAHB Response to Government Action on Freddie Mac and Fannie Mae

Jerry Howard, executive vice president and CEO of the National Association of Home Builders (NAHB), today issued the following statement on the government’s plan to place Fannie Mae and Freddie Mac into conservatorship:

“While it is unfortunate that we have reached this point, we are hopeful that the government’s action on Fannie Mae and Freddie Mac will help to increase liquidity in the nation’s mortgage markets and restore confidence in the global financial markets.

“At this critical turning point, it is essential that government regulators and all parties involved in the nation’s housing finance system work together to rebuild the nation’s secondary mortgage market – a move that is absolutely vital to provide affordable mortgages for America’s home buyers and to help spur an economic recovery.

“In that regard, NAHB looks forward to working with the current policy makers and stakeholders as well as the next Administration and Congress in their ongoing efforts to restore the financial health of Fannie Mae and Freddie Mac.”