Housing-finance reform looking less likely this year


The markup session for the housing-finance reform bill - which has the support of the bipartisan leadership of the Senate Banking Committee - is set for April 29, leaving only about one month for Congress to vote before election season begins. Height Analytics' Edwin Groshans thinks there's less a less-than 5% chance of passage this year.

By scheduling such a late markup session, lawmakers hoped to have time to raise support for the complex bill which would include the contentious wind-downs of FNMA and FMCC. There is, of course, a wide chasm between the Senate and more conservative House views, but there's also Fannie and Freddie shareholders looking to be heard.

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Comments (9)
  • David Sims
    , contributor
    Comments (751) | Send Message
     
    American Banker reported that the mark-up will include language favorable to shareholders (or at least less unfavorable). Congratulations to those shareholders that spoke out against the bill and the language on page 388.
    22 Apr 2014, 01:00 PM Reply Like
  • billpopp
    , contributor
    Comments (7) | Send Message
     
    This whole thing smells like pure political theater with a little graft and corruption thrown in. When the deal doesn't make sense for the good of the order and there is all this political puffery around it, I smell a rat. Unfortunately since the advent of the neo cons the rats are usually in the republican camp. How about the prescription drug act with no ability for the government to negotiate prices? Or the bank and investment banker bailouts with no criminal recriminations for the rampantly dishonest mortgage lenders that caused the mess and the banks for packaging the junk? Or the affordable care act without the public option or any consideration of single payer (that's a chicken democrat problem as well)?

     

    The fact that the wind-down is running out of steam is not surprising. Politicians are beginning to read the tea leaves and screwing up the housing market in an election year is not going to play well in Peoria. So save your Fannie Mae dollars, justice and right will prevail.
    22 Apr 2014, 01:16 PM Reply Like
  • Daveintexas
    , contributor
    Comments (6) | Send Message
     
    It's not broke! Leave it alone!
    22 Apr 2014, 01:30 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (10977) | Send Message
     
    Freddie and Fannie will be "reformed" by Congress the day after the Cubs beat the Royals in the World Series.

     

    ...or perhaps after a Cleveland Browns Super Bowl victory parade.

     

    You get the point.
    22 Apr 2014, 01:41 PM Reply Like
  • MatchlessGlory
    , contributor
    Comments (37) | Send Message
     
    This week, and next, should be very good for these stocks.
    22 Apr 2014, 03:14 PM Reply Like
  • lifeson99
    , contributor
    Comments (5) | Send Message
     
    It ain't broke - so don't ruin it. Crapo's Bill stands to help ONLY that select group by lining their pockets and adding to their Power.
    22 Apr 2014, 03:20 PM Reply Like
  • nickcci
    , contributor
    Comments (4) | Send Message
     
    Flawed crapo- exactly how it sounds
    read this:

     

    http://bit.ly/1jwIw4T

     

    the date for the Vote is the 29th of this month
    22 Apr 2014, 04:24 PM Reply Like
  • abovegod
    , contributor
    Comments (132) | Send Message
     
    Fannie & Freddie have been forced to sweep over $300 billion to the treasury & Congress wants to kill the Golden Goose & give the mortgage business to hedge funds & Wall Street. What would the banksters charge for interest on a housing loan?
    23 Apr 2014, 09:01 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (10977) | Send Message
     
    Private banks extending mortgage loans?

     

    Insanity, I tell ya!
    23 Apr 2014, 09:13 AM Reply Like
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