All NARPM® members are encouraged to forward information on industry related news and legislative matters affecting property management to govtaffairschair@narpm.org

Fannie Mae / Freddie Mac Update

Recent news reports regarding discussions in the U.S. House Financial Services Committee about the future of Fannie Mae and Freddie Mac have raised the question about whether these two GSEs should be eliminated or just restructured. Congressman Barney Frank, Chairman of the House Financial Services Committee, said that the committee would probably recommend that the two institutions be abolished in their current form. Treasury Secretary Timothy Geithner said the administration is committed to a new set of reforms for both organizations, but due to the complicated nature of the legislative process, the administration and the Congress may not be able to reach a consensus until sometime in 2011. Regardless of the timing, it seems certain that change will come.

Over the last two years, NARPM® leadership has made a concerted effort to build a relationship with Fannie Mae and Freddie Mac so that NARPM® could be in a position to provide critical advice to decision makers and promote our members as high quality residential property managers, should their services be needed. We will continue to monitor their restructuring and keep you advised of new developments.

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