In this testimony and working paper presented before the Senate Committee on Banking, Housing, and Urban Affairs, Eric Stein, CRL Senior Vice-President, reminded lawmakers that consumer concerns must not be lost in proposed housing finance reforms. Key recommendations include:
- Preserving broad consumer access to credit
- Requiring secondary market entities to serve a national market
- Converting stock ownership of secondary market entities to mutual ownership; and
- Ensuring small and regional lenders remain competitive in the secondary mortgage market