The housing industry is of vital importance to our country’s future. It is a key sector of our economy, supporting millions of jobs in construction, manufacturing, real estate, finance, and other industries. Moreover, for many Americans, their home is their largest financial investment.
That is why the Obama Administration is strongly committed to responsibly reforming our nation’s broken system of housing finance, including Fannie Mae and Freddie Mac. And that is why it is so important that we get the reforms right.
Work on this issue is well under way, as the Obama Administration continues to develop a comprehensive reform proposal for delivery to Congress by January 2011. Earlier this year, Secretaries Geithner and Donovan testified before Congress, outlining the principles that will guide the Administration’s housing finance reform efforts. In April, the Treasury Department and the Department of Housing and Urban Development issued related questions for public comment, which have received over 300 responses from a broad cross-section of stakeholders. (To view these responses, please visit: here and here.)
That commitment to public engagement will continue. Today, the Administration is announcing that it will hold on August 17 a Conference on the Future of Housing Finance at the U.S. Treasury Department in Washington, D.C. This event will bring together leading academic experts, consumer and community organizations, industry groups, market participants, and other stakeholders for an open discussion about housing finance reform.
Fonte: White House