NAHB Accepts House GSE Bill Compromise

The National Association of Home Builders says it can live with a GSE bill compromise that Treasury Department officials have developed with key House members, including the language regulating Fannie Mae and Freddie Mac's investment portfolios and product approvals."We are fine with the whole package," NAHB executive vice president and chief executive Jerry Howard told MortgageWire. NAHB is a close ally of Fannie and Freddie and Mr. Howard has warned repeatedly that the builders will oppose any legislation that "hamstrings" the two government-sponsored enterprises from fulfilling their mission and providing capital and liquidity for the housing market. He noted that approval process for new products will make sure Fannie and Freddie don't overstep their boundaries. "At the same time, we think it is a quick enough process to allow them to be nimble in the marketplace."