WL Ross’ Vice Chairman Advises Against a Rush to Judgment on GSEs

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This is a good article regarding the move to do away with both Fannie Mae and Freddie Mac. Please read the article below and let me know what you think.

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While the industry and government are at odds on the next steps for Fannie Mae and Freddie Mac, one important voice in the industry said that wait and see approach on the GSEs may yield to better results to a packed room on Monday.

James B. Lockhart III, vice chairman of WL Ross & Co. and former director of the Federal Housing Finance Agency, spoke to a large crowd at the inaugural Investment Symposium at the 10th Annual Five Star Conference and Expo.

The session was one of many dedicated to the investor experience in today’s marketplace.

Louis Amaya, CEO of National Asset Direct, introduced Lockhart to the crowd.

The GSEs were the focal point of Lockhart’s address because they are giving investors pause as they examine the marketplace.

“One reason we’re in a slow recovery is that there’s a lot of uncertainty,” he said. “[These] new rules are adding to this uncertainty and the sequester and debt ceiling deal are a part of what make investors uncomfortable.”

Fannie Mae and Freddie Mac have a giant a market share, Lockhart says, lending to a lot of the turmoil surrounding them in Washington, D.C. During the recovery the GSEs forged their own path, but not without trial and error.

To read the complete article please use the link below.

Judgment on GSEs

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