In this report, we continue our assessment of GSE-reform recommendations.  We turn here to a paper prepared by Michael Stegman for the Bipartisan Policy Center (BPC) which in our view reflects what might have been the Obama Administration’s view of GSE reform’s approach to affordable housing obligations had it ever got serious enough to lay out a specific proposal.  Stegman’s options now will guide Democratic thinking in the Senate as a new model takes shape.

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