Several of you have expressed surprise that S. 3503, the sweeping housing-reform legislation introduced on Wednesday by Sen. Warren, doesn’t address GSE or FHFA reform. We don’t think it has to. Sen. Warren doubtless intends the bill as a meaningful political – not necessarily policy – proposal. This may play well now in Massachusetts and next year on the national stage. However, no matter what, the bill is a marker for what progressives will demand if GSE-reform legislation moves through regular order regardless of who controls which House of Congress.
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