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For Immediate Release
Feb 01, 2019

Milken Institute on housing finance reform outline from Chairman Crapo

WASHINGTON, February 1, 2019—Sen. Mike Crapo, chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today released an outline for housing finance reform legislation.

“We applaud Chairman Crapo for his leadership in putting forward an outline to fix the housing finance system,” said Eric Kaplan, director of the Milken Institute Housing Finance Program. “Upon initial review, this outline has the potential to achieve many of the housing finance reform principles and objectives we support.”

The Milken Institute Housing Finance Program team recently released A Blueprint for Administrative Reform of the Housing Finance System, which recommends administrative measures to strengthen the housing finance system in the near-term and help pave the way for bipartisan congressional action. The team also set forth principles for legislative housing finance reform in its 2018 paper, Bringing Housing Finance Reform over the Finish Line.

“Chairman Crapo’s outline is important in that it builds upon last year’s active legislative debate and reflects the importance of maintaining serious housing finance reform momentum,” Kaplan adds. “We look forward to working with the Chairman, all Members of Congress, Administration officials, and industry participants to be helpful in the legislative effort that follows.”

Kaplan and his Milken Institute housing finance team – which includes senior fellows Michael Stegman, former senior policy advisor for housing at the National Economic Council; Phillip Swagel, professor at the University of Maryland School of Public Policy and former assistant secretary for economic policy at the Treasury Department; and Theodore Tozer, former president of the Government National Mortgage Association (Ginnie Mae) – have been engaging with industry and government stakeholders to advance efforts for comprehensive housing finance reform.

Kaplan is available for interviews and can be reached at ekaplan@milkeninstitute.org.

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About the Milken Institute

The Milken Institute is a nonprofit, nonpartisan think tank determined to increase global prosperity by advancing collaborative solutions that widen access to capital, create jobs and improve health. It conducts data-driven research, convenes action-oriented meetings and promotes meaningful policy initiatives.
www.milkeninstitute.org
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