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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 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 authored by Jim Parrott, Dave Stevens, Mark M. Zandi, Urban Institute 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.

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

  • U.S. Census Bureau New Residential Construction Report, Tuesday, 8:30 a.m. ET
  • S&P CoreLogic Case-Shiller HPI, Tuesday, 9:00 a.m. ET
  • FHFA House Price Index, Tuesday, 9:00 a.m. ET
  • MBA Mortgage Applications, Wednesday, 7:00 a.m. ET
  • NAR Pending Home Sales Index, Thursday, 10:00 a.m. ET
  • Fed Balance Sheet, Thursday, 4:30 p.m. ET
  • New Home Sales, Friday, 10:00 a.m. ET
  • Census Bureau New Residential Sales report, Friday



About Author: Seth Welborn

Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer.

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