HPC President's Statement on Chairman Crapo's Outline for Housing Finance Reform

“I commend Senator Mike Crapo (R-ID), Chairman of the Senate Banking Committee, for his strong leadership in taking an assertive first step in the development of bipartisan housing finance reform legislation. Chairman Crapo recognizes that for true reform of the system to occur, Congress must act. The policy framework announced today serves as the foundation for a constructive dialogue that will lead to a sensible and balanced reform plan. Chairman Crapo has identified the critical issues to be resolved – safeguarding access to credit for low- and moderate-income households, protecting the government from unnecessary losses by putting private capital first, ensuring a competitive and transparent marketplace where all types of financial institutions may succeed, and generating funds to expand affordable housing opportunities for more American families. In so doing, Chairman Crapo demonstrates his commitment to address key bipartisan concerns and to chart a course for the Senate Banking Committee to produce a bill that will reinvigorate and restore the resilience of the US housing finance system.” - Ed DeMarco, President of the Housing Policy Council Learn more here.