Federal lending programs have long had an impact on the real estate industry, and a recent announcement from the White House indicates that those lending programs may be overturned.
According to Reuters, the Trump Administration is planning to partner with Congress to create a framework to overhaul the way that federal lending programs work. The article states that:
- The White House considers housing finance reform to be a high priority for the administration.
- There are no specific details related to the plan to overhaul the federal lending programs, but that the administration intends to announce a framework that would minimize the risk that taxpayers assume under the current structure of the housing finance system.
- The White House hopes that by minimizing the control over the mortgage finance firms Freddie Mac and Fannie Mae, that Americans will be able to have more real estate purchasing power.
The control over Freddie Mac and Fannie Mae has been a hot topic since the housing crisis that sparked the Great Recession more than a decade ago.
Real estate professionals and those who work in the real estate industry should not only stay informed about current events and industry trends, but also should partner with an experienced legal expert. A real estate lawyer can help those in the real estate industry coordinate successful real estate transactions and also navigate the legalities of purchasing or selling property.
For more information on how our real estate law firm can help you improve your business, contact us today. You can schedule a consultation appointment with one of our experienced real estate attorneys and begin discussing the specifics of your case. We look forward to working with you and providing you with the results that you need.