In light of the recent financial crisis which decimated our housing market, there have been calls to revamp our mortgage finance system. Currently, the mortgage giants Fannie Mae and Freddie Mac process the majority of our nationâ€™s home loans. Many wish to dissolve these corporations to insure their reckless lending policies, and the resulting taxpayer bailouts, are not repeated. They suggest building a new housing finance system that will provide secure home ownership for responsible middle class families and those striving to join them. This new entity, the Federal Mortgage Insurance Corporation (FMIC), would provide government insurance for mortgages just as the Federal Deposit Insurance Corporation (FDIC) does for savings accounts. Advocates say the FMIC would be prohibited from taking the risks which helped cause our catastrophic housing crisis. They also claim it would spur investment in the rental housing market.
S.1217 – Housing Finance Reform and Taxpayer Protection Act of 2013 (113th Congress 2013-2014)
I oppose reforming current home foreclosure policy and wish to defeat H.R.190 and H.R. 1397
I support either reintroducing S.1217 – Housing Finance Reform and Taxpayer Protection Act of 2013 (113th Congress 2013-2014), or a similar version thereof.