January 2017 - The World's Local Bank

TheMReport — News and strategies for the evolving mortgage marketplace.

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FEATURE 26 | TH E M R EP O RT MCS Valuations is committed to providing the best possible service and most reliable value to our clients. Backed by industry-leading data and experts with decades of experience, MCS Valuations is your trusted resource for all of your valuation needs. 800.791.7145 | MCSVALUATIONS.COM | INFO@MCSVALUATIONS.COM | 350 HIGHLAND DRIVE | SUITE 100 | LEWISVILLE, TX | 75067 have been tremendous changes in political leadership in the White House, as well as in Congress. The White House will be very influential in where they try to strike that consensus. We have a change in committee members and leadership in the Senate. We have many staffers who helped negotiate the last round who have moved on to other things. There's a need for a lot of catching up and getting into the real, hard debate about the appropriate level of government involvement. In addition, ensuring that a reformed system will provide broad access to affordable mortgage credit will continue to be a very important element in the debate. That's why it's important for the new administration to make hous - ing finance reform an important priority right away by encouraging Congressional hearings, looking at lessons learned, and seeing where that sweet spot emerges. M // Why do you think housing and GSE reform have been such hot-button topics of discussion since Election Day? STEGMAN // There are a number of people who have been associ- ated with the transition, and that now includes Secretary-designate Steven Mnuchin, who come into this process with strong feelings that eight years of a conservator - ship is long enough and Fannie Mae and Freddie Mac ought to be in private hands. I don't think any of us, no mat- ter what side of the aisle we sit on, can deny that the conservatorship has lasted too long. Mnuchin has stated that, given his background in mortgage finance, he believes that decisions about allocating credit and making credit decisions should be in the hands of those who originate and make mortgage loans, and not the government, so fixing this problem is a high prior - ity. I think that's good, but I also think it will take some time for the new team to figure out what the right course is and how to get broad-based congressional buy-in to ending the conservatorship. Part of the reason for my saying that I think a bipartisan solution is necessary is that, while we might all believe that the conservatorship has lasted way too long, there are many stakeholders out there who think that, from the standpoint of affordable housing, the status quo may be better than any legisla - tive outcome they might expect to achieve. Consequently, if the Trump Administration doesn't seek a bipartisan approach to housing finance reform, it is likely that any legislative measure that doesn't adequately address broad access will be blocked in the Senate because you'll still need a 60-vote majority. Presidential leadership is critically important but a bipartisan approach is of equal importance. BRIAN HONEA'S writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press. A lifelong Texan, Honea received his master's degree from Amberton University in Garland. Honea is the online editor of

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