Policymakers should focus housing finance reforms most immediately on recapitalizing Fannie Mae and Freddie Mac, ICBA told Congress.
In a statement
for a Senate Banking Committee hearing, ICBA urged Treasury and the Federal Housing Finance Agency to quickly end the net-worth sweep of the government-sponsored enterprises' earnings, as proposed
by the Trump administration.
At the hearing
, committee Chairman Mike Crapo (R-Idaho) encouraged administration officials to begin acting on housing-finance reforms, citing Congress' inability to advance legislation. That could free administration officials to begin recapitalizing the enterprises and ending the net-worth sweep, as authorized under the Housing and Economic Recovery Act.