Washington, D.C. — 46 independent mortgage banks (IMBs) sent a joint letter today to Treasury Secretary Bessent and FHFA Director Pulte identifying IMB priorities for a Fannie/Freddie Exit from Conservatorship, to protect smaller IMBs and consumers.
The IMB sign-on letter, spearheaded by the Community Home Lenders of America (CHLA), comes one day before the 17th anniversary of Fannie Mae and Freddie Mac being taken into conservatorship. It also lands in the wake of reports of the Trump Administration taking initial steps towards a public offering of stock in Fannie and Freddie before year-end.
The letter states:
“Following are key policy recommendations for a conservatorship exit – to protect small mortgage lenders, maximize competition and consumer choice, and boost homeownership in a safe and sound manner:
- G Fee Parity and a Competitive Cash Window
- No Wall Street Bank Charters for GSE Loans
- Keep Fannie and Freddie Separate Under a Utility Model
- GSEs Should Maintain Critical Mortgage Loan Products
- The GSEs Should Purchase MBS to Lower Mortgage Rates”