By George Mitchell

October 26, 2011

It has been nearly five years since I joined with fellow Senate Majority Leaders Howard Baker, Tom Daschle and Bob Dole in founding the Bipartisan Policy Center (BPC). In that time, BPC’s reputation for convening policymakers from both sides of the aisle and forging compromise on some of our most challenging issues has become a trademark in Washington.

By Christopher Bond

October 25, 2011

Homeownership, the linchpin of the American Dream, recently turned into a nightmare for many families who could no longer afford their mortgages and, in turn, our neighborhoods, communities, and entire economy suffered. Solving these, and other pressing short-term issues like homelessness and lack of safe and affordable housing, and addressing long-term questions on the appropriate role of the federal government in housing will be no small stump to jump.

By Jason Grumet

October 26, 2011

In the nearly five years since we launched the Bipartisan Policy Center, we’ve worked to develop actionable solutions for a range of policy issues. Today, we’re pleased to expand our efforts to consider the role of the federal government in housing policy. BPC’s new Housing Commission will be informed by ongoing BPC projects from deficit reduction and energy policy to transportation infrastructure and health care.

We launch our latest initiative at a time when leaders on both side of the aisle, in the executive and legislative branches, have begun releasing proposals to reform the existing housing finance market. On Monday, the President announced that the Federal Housing Finance Agency (FHFA) will change the terms of the Home Affordable Refinance Program (HARP). This effort would enable homeowners to refinance their homes at lower mortgage rates, regardless of the depreciation on their house’s value. The role of the federal government in the housing market is of interest to Republicans as well. Earlier this year, in their budget proposal, House Republicans called for several substantive changes to Fannie Mae and Freddie Mac designed to bring transparency and accountability to Government Sponsored Enterprises (GSEs).

By Michael Stubel

October 28, 2011

Throughout the week, the BPC Housing Commission will highlight news articles that address critical developments in housing policy. Any views expressed in the content posted on this forum do not necessarily represent the views of the Commission, its co-chairs or the Bipartisan Policy Center.

Fannie Mae, Freddie Mac unlikely to need more taxpayer money, feds say

By Zachary A. Goldfarb
The Washington Post

"Mortgage finance giants Fannie Mae and Freddie Mac are unlikely to need any more taxpayer money and will soon start paying back their loans, bringing the total cost of the government bailout of the firms to $124 billion by the end of 2014, according to federal officials. To date, the companies, which play a central role in the Obama administration’s response to the housing crisis, have cost taxpayers $141 billion. But soon, Fannie and Freddie will begin to generate enough profit to begin to pay back taxpayers." Read more here.