Publication Date

November 2011

Author(s)

Janneke Ratcliffe

The Private Mortgage Market Investment Act as drafted is a helpful starting point for negotiating those rules, but it must be seen as only a first step toward broader GSE reform.

This testimony by Janneke Ratcliffe, before the House Subcommittee on Capital Markets and Government-Sponsored Enterprises, argues that, as Congress and the administration work to design a better system of housing finance for the future, it is critical to make sure the rules of the game are laid out clearly and fairly before anyone can be expected to start playing again. The Private Mortgage Market Investment Act as drafted is a helpful starting point for negotiating those rules, but it must be seen as only a first step toward broader reform of the government-sponsored enterprises.