Government reforms will impact future secondary market: NAR
Industry insiders at the Realtors Midyear Legislative Meetings & Trade Expo said Wednesday that new financial regulations and reforms will have a significant impact on the future of the secondary mortgage market.
The mortgage rules from the Dodd-Frank Wall Street Reform and Consumer Protection Act as well as uncertainty surrounding enterprise reform are among the top issues facing the housing market, said the National Association of Realtors in its latest release.
Barbara Novick, vice chairman at BlackRock, Inc. (BLK), believes more must be done to restore the health of the housing market to attract greater private capital.
Similarly, Rob Couch, counsel at Bradley Arant Boult Cummings, agreed that the government's current level of involvement in housing is unsustainable.