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In a hearing before the House Financial Services Committee, Members of the Financial Institutions and Consumer Credit Subcommittee expressed concerns that the Qualified Mortgage rule mandated by the Dodd-Frank Act will reduce access to credit that qualified borrowers need to buy homes. See: Webcast of the Hearing and Committee Memorandum. Testimonies: Mr. Peter Carroll, Assistant Director for Mortgage Markets, Consumer Financial Protection Bureau; Ms. Kelly Cochran, Assistant Director for Regulations, Consumer Financial Protection Bureau.

The Senate Banking Committee held a hearing entitled, "Housing Finance Reform: Essential Elements of a Government Guarantee for Mortgage-Backed Securities." This hearing, as well as previous hearings, focused on the future of housing reform, particularly Senate Bill 1217 ("S. 1217"), entitled, "Housing Finance Reform and Taxpayer Protection Act of 2013," which was introduced by Senators Corker (R-TN) and Warner (D-VA). The legislation is intended to strengthen the United States' housing financing system by replacing government-sponsored enterprises ("GSEs") Fannie Mae and Freddie Mac with a

The U.S. Senate Committee on Banking, Housing and Urban Affairs (the "Committee") heard testimony from various witnesses on Chair Mike Crapo's (R-IA) proposed framework for housing reform legislation. Released in February, the framework for reform would: protect taxpayers by reducing the too-big-to-fail risk posed by the current "duopoly of mortgage guarantors"; keep existing infrastructure in the housing finance system that works well, while increasing the role of private risk-bearing capital; create new layers of protection between mortgage credit risk and taxpayers; ensure a level playing