Counselor to the Secretary of the Treasury for Housing Finance Policy noted during his featured addressed at the American Securitization Forum conference on Wednesday that while housing is improvement, challenges still remain. 

As a result, there are three key items that will elevate housing pains. 

Congress and Treasury wil lcontinue to help responsible borrowers by taking advantage of historically low interest rates. 

Both goverment agencies will also look for ways to help consumers repoair credit and regain footing in the housing market.

The most important item for long term stablization of the housing sector is seeking to enhance conditions for private capital to serve a greater role in taking on mortgage credit. 

The goverment through Fannie Mae and Freddie Mac as well as other agencies still support roughly 80% of new mortgage orginations.

Stegman noted that the goal over the long-term is to shrink the goverment footprint in this sector as it's critical for housing finance.

Making more progress on representation and warranty reform for lenders is another area Congress and Treasury are expected to focus on this year. 

"We're all in this together, to rebuild a viable and stable housing sector," Stegman said.