WASHINGTON (STL.News) – National Association of Realtors® President John Smaby issued the following statement Thursday commending the Trump administration for its efforts to reform America’s housing finance system. The White House this afternoon released a proposal to reform operations of the Government Sponsored Enterprises and the Department of Housing and Urban Development that it had been working towards since the President made the issue a top priority earlier this year.
“The National Association of Realtors® thanks President Trump and his administration for initiating thoughtful, genuine effort toward housing finance reform. We look forward to reviewing the proposal in more detail and are optimistic that, at a minimum, the White House’s efforts will shed light on the remaining mile markers on the path to reform, along with the critical role the GSEs and Federal Housing Administration play in America’s housing market,” said Smaby, a second generation Realtor® and broker at Edina Realty in Edina, Minnesota.
“NAR continues working with the White House and Congress as we move closer to securing palatable, pragmatic improvements to our housing finance system, and we maintain our belief that NAR’s blueprint for GSE reform represents the best path forward for this system and our economy.
“Our proposed utility model, as any successful reforms must, highlights competition, protects taxpayers and remedies the failures of the pre-crisis system while ensuring equal access for responsible, mortgage ready Americans in every community, safeguarding the role the GSEs were intended to play in our housing market.”
The National Association of Realtors® is America’s largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.