Speaking to members of the media during the trade group’s annual convention in Chicago, he said the government agency rule-making process is fully transparent, with the opportunity for stakeholders to examine and comment on the proposals.
Stevens, a former FHA commissioner in the Obama administration, also raised the issue of Fannie Mae’s minimum net worth/volume cap proposals. (Earlier this month National Mortgage News broke the news that Fannie was placing conditions on its secondary market purchases with new seller/servicers.)
Fannie Mae believes it is being fully transparent, a point in which Stevens said he disagreed. Collective stakeholders should have the opportunity to weigh in on the process. “Let’s get a full explanation of what they plan,” he said.
During a speech to members, Stevens said that no matter who wins the presidential election, there needs to be a housing policy coordinator appointed. This person would be more of a traffic cop, directing the various agencies involved in rulemaking to speak with each other and to coordinate so that new policies do not conflict with each other.