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The Week Ahead: Senate Committee Talks Housing Reform

On Tuesday March 27, at 10 a.m. ET, the Committee on Banking, Housing, and Urban Affairs [1] will begin its hearing on the Committee's Housing Reform Outline. The witnesses will be: Sue Ansel, President and CEO, Gables Residential, on behalf of The National Multifamily Housing Council; Edward J. DeMarco, President, Housing Policy Council; Greg Ugalde, Chairman of the Board, National Association of Home Builders; Mark M. Zandi, Chief Economist, Moody’s Analytics; Hilary O. Shelton, Washington Bureau Director and SVP for Advocacy and Policy, NAACP; and Adam Levitin, Professor of Law, Georgetown University Law Center.

Committee Chairman Mike Crapo's Housing Reform Outline is a short outline detailing several key changes the committee wishes to see, including ensuring Fannie Mae and Freddie Mac will be private guarantors, and reform to the FHFA.

In a research brief [2] authored by Jim Parrott, Dave Stevens, Mark M. Zandi, Urban Institute [3] addressed some unresolved issues in the Outline.

"While leaving much to be resolved, it offers a promising framework from which to begin," the brief stated. "How this framework is filled in will be important, however, since a few critical structural choices yet to be made will have a dramatic impact on how the proposed system would work. We offer a summary of where this framework starts, three of the most important design issues left to be decided, and how these issues must be decided to ensure a viable path for the legislative reform we so badly need."

The hearing can be viewed here. [1]

Here's what else is happening in The Week Ahead: