Senate Banking Hearing on Housing Reform (with Delta Strategy Group Summary)

The Senate Banking Committee held a hearing entitled, "Housing Finance Reform: Essentials of a Functioning Housing Finance System for Consumers." The hearing focused on the future of housing reform and, in particular, 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 privately capitalized system that preserves market liquidity and protects taxpayers from future economic downturns. The following witnesses testified:

• Eric Stein, Senior Vice President, Center for Responsible Lending (written remarks)
• Rohit Gupta, President, Genworth Financial, Incorporated (written remarks)
• Gary Thomas, President, National Association of Realtors (written remarks)
• Laurence E. Platt, Partner, K&L Gates LLP (written remarks)
• Alys Cohen, Staff Attorney, National Consumer Law Center (written remarks)
• Lautaro Diaz, Vice President, Housing and Community Development, National Council of La Raza (written remarks)

Click here for a summary of the hearing by Delta Strategy Group.