In the wake of the 2007 housing market crash, Congress created the Federal Housing Finance Authority (FHFA) to supervise Fannie Mae and Freddie Mac, the government-sponsored lending agencies that are supposed to provide stability and liquidity to the mortgage market. Almost immediately, the Authority announced its plans to take over the two mortgage giants and place them into conservatorship. Now, just four months into his tenure, a new head of the FHFA has set an ambitious agenda for reforming Fannie and Freddie and ending the conservatorship.
On Thursday, October 10, Federal Housing Finance Authority Director Mark Calabria and Scalia Law Professor Thomas Vartanian held a broad-ranging discussion on the state of America’s economy, the prospects for housing finance reform, and what that means for consumers, investors, and the housing market.
Our thanks to Dr. Calabria for sharing his time and perspectives with the Law School community.
See below for photos from the event!