Small lenders, consumer groups offer GSE reform alternative

Mortgage

A group of small and midsize mortgage lenders and affordable housing advocates called Wednesday for an end to the nine-year conservatorship of Fannie Mae and Freddie Mac, offering an alternative approach on housing finance reform

The Main Street GSE Reform Coalition, made up of five disparate trade groups, outlined broad principles to counter a Senate plan that would eliminate Fannie and Freddie and replace them with private entities that would be given an explicit government guarantee in securitizing mortgages.

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