The House FinServ Subcommittee on GSEs took up six GSE bills today during a contentious mark-up, with final votes outstanding as of COB. Ranking Member Frank (DMA) expressed disappointment in the timing of the process, stating that these bills would just be added to the other GSE bills previously reported by the subcommittee (see Client Report GSE122) without advancing broader GSE reform. There was also disagreement among Republicans on the subcommittee, with Rep. Campbell (R-CA) stating that the bills were a mistake and that the mark-up was poorly timed. This report analyzes the bills considered at today’s mark-up. Although several appear far-reaching (i.e., one that “revokes” the GSEs’ charters), none would force fundamental restructuring in the GSE conservatorship or alter their role in the housing market under current conditions.
The full report is available to retainer clients. To find out how you can sign up for the service, click here.