2 NAHB Members Quit Fannie Advisory Panel

Two top officers of the National Association of Home Builders have resigned from Fannie Mae's national advisory council, a move that was prompted by the trade group's review of its GSE policies.The NAHB will release its findings and recommendations in regard to its policies toward government-sponsored enterprises in January, NAHB executive director Jerry Howard told MortgageWire. The NAHB confirmed that two of its elected officials resigned from Fannie's NAC -- Bobby Rayburn, who served as chairman of the panel, and NAHB first vice president Dave Wilson. Mr. Rayburn is president of the NAHB, an elected position. (The NAHB has one member remaining on the NAC.) The two resignations occurred in the fall, when the trade group formed a special task force to study its GSE policies. Meanwhile, Mr. Howard is urging legislators to be careful in drafting new legislation to more tightly regulate Fannie Mae and Freddie Mac, noting that "housing finance has been the backbone of our economy." The NAHB and Fannie Mae have been major political allies for years, particularly in regard to legislation affecting housing finance. The NAC meets about four times a year to discuss issues affecting the industry. The panel historically consists of trade association officials, mortgage banking executives, nonprofits organizations, and others involved in the industry.