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Administration launches housing reform examination
WASHINGTON (8/13/10)--U.S. Treasury Secretary Tim Geithner and U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan will discuss issues central to housing finance reform at an Aug. 17 panel discussion. The panel discussion, which will take place between 9:00 A.M. and 1:30 P.M. (ET), will be broadcast live on the Treasury’s homepage (www.treasury.gov). Treasury Domestic Finance Undersecretary Jeffrey Goldstein said in a release that the conference is an opportunity for regulators and legislators to broaden their perspectives “on a number of key issues in a transparent way to make certain that all of the best ideas are on the table." The Obama administration is planning to provide its housing finance reform proposal to Congress in early 2011. Bank of America home loan president Barbara Desoer, National Urban League President/CEO Marc Morial, American Enterprise Institute fellow Alex Pollock, and other academics and industry insiders will take part in the panel discussions. Panel discussions on housing finance reform and its impact on the financial markets and housing policy will follow opening remarks, with assorted breakout sessions on the role of the private sector, access and affordability, securitization, and other topics to follow. Reps. Barney Frank (D-Mass.) and Paul Kanjorski (D-Penn.) late last month announced a slate of housing finance hearings set for September. Frank chairs the House Financial Services Committee, while Kanjorski leads the House subcommittee on capital markets, insurance and government-sponsored enterprises. Last month, Kanjorski said that the hearings would examine policies related to calculating guarantee fees and would allow legislators to consider “innovative ideas for recovering the costs resulting from the decision to place Fannie Mae and Freddie Mac into conservatorship." Both Fannie and Freddie were placed under government conservatorship in 2008.
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