GENERAL SESSION: Ensuring Stability in America’s Housing Finance System

Tuesday, May 20, 2025 9:15 AM-10:00 AM Broadway Ballroom, 6th Floor
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The status of Fannie Mae and Freddie Mac (the GSEs), now in their 17th year of government conservatorship, is still a top issue for the industry. At the heart of the debate is what kind of government backstop will be provided if they leave conservatorship. The MBA believes a clear guarantee on GSE mortgage-backed securities (MBS) is needed to preserve access and liquidity in the market. The 30-year, fixed-rate, freely prepayable mortgage, unique to America's housing system, relies on a special relationship between borrowers, lenders, investors, and the GSEs; and global investors' confidence in trading a trillion dollars annually in GSE MBS is crucial for maintaining housing market liquidity. Others argue it’s best to return to the implicit guarantee from before the crisis. Join industry leaders as they discuss the need for an explicit backstop.

Speakers

Speakers

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    Warren Kornfeld

    Senior Vice President, Moody's Analytics CRE

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    Scott J. Ulm

    Chief Executive Officer, Head of Risk Management, and Vice Chair, ARMOUR Residential REIT, Inc.

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