WASHINGTON - (Business Wire) Jerry Howard, executive vice president and CEO of the National Association of Home Builders (NAHB), today issued the following statement on the government's plan to place Fannie Mae and Freddie Mac into conservatorship:
"While it is unfortunate that we have reached this point, we are hopeful that the government's action on Fannie Mae and Freddie Mac will help to increase liquidity in the nation's mortgage markets and restore confidence in the global financial markets.
"At this critical turning point, it is essential that government regulators and all parties involved in the nation's housing finance system work together to rebuild the nation's secondary mortgage market - a move that is absolutely vital to provide affordable mortgages for America's home buyers and to help spur an economic recovery.
"In that regard, NAHB looks forward to working with the current policy makers and stakeholders as well as the next Administration and Congress in their ongoing efforts to restore the financial health of Fannie Mae and Freddie Mac."
NS2008-136
ABOUT NAHB: The National Association of Home Builders is a Washington, D.C.-based trade association representing more than 235,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. Known as "the voice of the housing industry," NAHB is affiliated with more than 800 state and local home builders associations around the country. NAHB's builder members will construct 80 percent of the more than 1.08 million new housing units projected for 2008.
National Association of Home Builders
Donna Reichle, 202-266-8473 (w)
703-402-6286 (c)
dreichle@nahb.com
www.nahb.com
