The leader of a prominent civil rights organization has voiced support for the privatization of the government-sponsored enterprising (GSEs).
The Hill reports Marc Morial, president and CEO of the National Urban League, has called on Bill Pulte, President Trump’s nominee to become director of the Federal Housing Finance Agency (FHFA), to achieve “the opportunity of a lifetime” and privatize Fannie Mae (OTCQB: FNMA) and Freddie Mac (OTCQB: FMCC).
“It’s simply time to move forward,” Morial stated. “President Trump has tasked his administration, including the FHFA and Treasury, with developing plans to solve the housing crisis facing communities in every state in the nation.”
Morial predicted that ending the GSEs’ federal conservatorship could lead to more affordable homeownership and rental housing opportunities.
“We have specific thoughts on a plan to use the proceeds from privatization to build homes for working families, for the forgotten middle class, in addition to those who are hardest hit,” Morial added. “The firefighter, the nurse and the teacher with a couple of kids who both commute long distances, so their kids have a decent home. The police officer or the carpenter who still live with their parents because housing costs in the areas they grew up or work are just too high.”
Pulte’s confirmation hearing before the Senate Committee on Housing, Banking and Urban Affairs is scheduled for today. Morial has asked for meeting with Pulte to discuss housing strategies and policies.
