Congressman Robert Hurt today released the below statement following the Financial Services Committee hearing examining regulatory impediments to private capital investments and a sustainable housing finance system:
"There is little debate that this Congress must take action in order to increase the amount of private capital in the secondary mortgage market. While it appears that the potential for private capital investments in the market have greatly increased, current federal policies are continuing to price out these investments and restrict their ability to return to the market. In addition, Dodd-Frank, which was sold to the American people as addressing our financial system's shortcomings, failed to address any of the problems with Fannie Mae and Freddie Mac and actually established more provisions which further enhanced the GSEs institutional advantages over the private market. I appreciate Chairman Hensarling's leadership in putting this Committee on the path to fundamentally reforming our nation's housing finance system to increase private investment and protect American homeowners and taxpayers."