Housing Finance-What Should the New System Be Able to Do?: Part I-Government and Stakeholder Perspectives
Author: House Financial Services Committee
Mar 23, 2010
Financial Services Committee Chairman Barney Frank (D-MA) announced today the committee will hold a hearing on March 23rd to begin the process of considering the future of housing finance. The hearing will focus on all the private and public entities that support the mortgage market, which include the Federal Housing Administration, Ginnie Mae, Fannie Mae, Freddie Mac, Federal Home Loan Banks, and private lenders and securitizers.
It is the first step in a legislative process to determine the future of housing finance and the federal government’s role in responsible homeownership and the supply of affordable rental housing. Chairman Frank has invited Treasury Secretary Timothy Geithner and Housing and Urban Development Secretary Shaun Donovan to present the Administration’s perspective, as well as representatives of the advocacy community, academia, and industry to present their ideas on the future of housing finance. Witnesses will be announced at a later date.
**Updated 3/2 - The above hearing has been rescheduled to Tuesday, March 23rd.
10:00am, Tuesday March 23, 2010, 2128 Rayburn House Office Building
Panel One:
- The Honorable Timothy F. Geithner, Secretary, U.S. Department of the
Treasury
Panel Two:
- Ms. Sarah Rosen Wartell, Executive Vice President, Center for American
Progress - Mr. Michael Berman, President and Chief Executive Officer, CWCapital, on
behalf of Mortgage Bankers Association - Mr. Mark A. Calabria, Ph.D., Director, Financial Regulation Studies, Cato
Institute - Mr. Vincent O'Donnell, Vice President, Affordable Housing Preservation
Initiative, Local Initiatives Support Corporation (LISC) - Mr. Robert E. DeWitt, President, Chief Executive Officer, and Vice Chairman,
GID Investment Advisers LLC, on behalf of National Multi-Housing Council - Ms. Janis Bowdler, Deputy Director, Wealth-Building Policy Project, National
Council of La Raza - Mr. Anthony Sanders, Distinguished Professor of Real Estate Finance, School of
Management, George Mason University - Mr. Vince Malta, Vice President and Liaison to Government Affairs, National
Association of Realtors
Available Member Statements: Congressman Kanjorski
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Did You Know?
The effect of the financial crisis on potential U.S. output over the long term is estimated to be -2.4% per year.
Source: Organisation for Economic Co-operation and Development
