Statement from NAHB Chairman Greg Ugalde on Today’s Senate Banking Committee Hearing on the Administration’s Housing Finance Reform Plan

September 10, 2019

Greg Ugalde, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Torrington, Conn., today issued the following statement in response to today’s Senate Banking Committee hearing on the administration’s housing finance reform plans:

“The Trump administration has put forward a plan for housing finance reform, with both administrative and legislative recommendations. Now, with Fannie Mae and Freddie Mac 11 years in conservatorship, it is long past time for Congress to act. For a healthy economy, all in the housing sector need to have confidence that their liquidity needs will be met. Only Congress can provide certainty to the housing finance system through durable housing finance reform, free from the whims of administration personnel changes. Failure to act by Congress surrenders reform to the federal agencies and risks postponing much needed changes for years to come. The National Association of Home Builders stands ready to work with Congress, the administration and other stakeholders in the effort to achieve meaningful reform.”