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The PATH to a Sustainable Housing Finance System for the 21st Century

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House Republicans are hard at work reforming America’s housing finance system so it’s sustainable for home owners, respectful of hard-working taxpayers, and built to last. Today – more than five years after the financial crisis and three years since the passage of the Dodd-Frank Act – President Obama delivered a speech outlining his principles for housing finance reform.  While it’s…

Weekend Must Reads

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Wall Street Journal | Just Another Bureaucracy The Consumer Financial Protection Bureau likes to portray itself as a virtuous, upstart and independent agency focused on helping the little guy. In reality it's just another big bureaucracy that rolls out thousands of pages of new rules every year, generating lucrative business opportunities for lawyers and the agency's…

Washington Post: PATH Act Is A “Free Market Alternative To The Status Quo”

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Editorial | July 25, 2013 THE POLITICS of housing finance reform are starting to get interesting. On Wednesday, the Republican-controlled House Financial Services Committee passed the Protecting American Taxpayers and Homeowners (PATH) Act, which would wind down Fannie Mae and Freddie Mac and replace the busted entities with —…

ICYMI: Chairman Hensarling on Bloomberg’s Capitol Gains

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“…if you don't get rid of the permanent, everyday government guarantee in the secondary mortgage market, I fear all you've done is put Fannie and Freddie in the Federal Witness Protection Program. Give them a facelift, give them new names, maybe they come out as Eddie and Annie. And yet they're released on an unsuspecting public.”   Hensarling on the PATH Act – Protecting…

Sunday Video Message | Rep. Randy Neugebauer

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  Housing & Insurance Subcommittee Chairman Randy Neugebauer (Facebook | Twitter) delivers this week's Sunday Video Message on the PATH Act. The full committee will markup the PATH Act this Tuesday at 10:15 a.m. Read more about the act -- including how it sustains the 30-year fixed rate mortgage and enables FHA to play an expanded role in times of crisis -- on our Bottom Line Blog. 

Weekend Must Reads

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AEI: FHA Watch – July 2013 The Protecting American Taxpayers and Homeowners (PATH) Act provides for comprehensive reform of the government’s role in housing finance. Heritage Foundation: Dodd-Frank at Year Three: Onerous and Costly July 21 marks the third anniversary of Dodd–Frank, Washington’s massive regulatory response to the housing market collapse, the failure of major…

PATH Act “Enables FHA to Play Expanded Role in Times of Crisis”

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Rep. Ed Royce hit the nail on the head this week when he correctly pointed out that the PATH Act does not eliminate all government guarantees as some have incorrectly claimed. Courtesy of Rep. Royce’s office, below is his exchange with Federal Reserve Chairman Ben Bernanke this week on how the PATH Act preserves the FHA’s countercyclical role by allowing it to insure loans to any…

A Reminder of the Corruption That Helped Birth the Biggest Bailout in History

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“Fannie Mae will never impose a cost on the American taxpayer…” – James A. Johnson, Chief Executive Officer of Fannie Mae, testifying before the House of Representatives, April 17, 1996  “Under the direction of James A. Johnson, Fannie Mae’s calculating and politically connected chief executive, the company capitalized on its government ties, building itself into the largest and most…

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