Earlier in February, NAR held a forum in which they released their vision for Government Sponsored Enterprises (GSE) reform for the secondary mortgage market.
The National Association of REALTORS®, in collaboration with Susan Wachter, the Albert Sussman Professor of Real Estate Finance at The Wharton School of the University of Pennsylvania, and Richard Cooperstein, head of Risk Management at Andrew Davison and Company, Inc, has developed a new vision for the secondary mortgage market that will promote a reliable and affordable source of mortgage capital for American consumers.
The vision includes:
- Leveraging reforms and innovations implemented since the crisis while completing the process with instrumental updates for a fully functioning liquid market.
- Promoting competition in the secondary market through proven structures to correct market failures.
- Preserving the 30-year fixed rate mortgage and focusing the mission on liquid secondary markets for Middle America and underserved borrowers.
- Minimizing the cost to consumers in normal and stress periods while maximizing access for creditworthy borrowers.
- Protecting taxpayers by using private capital.
- Maintaining simplicity in the transition while avoiding market disruptions.
Members are encouraged to read into NAR’s vision by visiting NAR.Realtor
Governor Mike DeWine made his first major announcement as Governor. Gov. Dewine unveiled his plan to plug a shortfall in the state’s transportation budget which included asking the legislature to increase the state’s gas tax to 18 cents.
Mayor Nan Whaley issued her sixth annual State of the City. In her address, the mayor touted strong economic growth in the city’s core. She announced that the focus for the remainder of her term will be eliminating inequality with attention being paid to reducing evictions.
Dayton REALTORS® will be following this development closely.