Reforming the Dodd-Frank Act could take a back seat to revamping the nation’s housing-finance system, according to Sen. Mark Warner, D-VA.
Speaking before the Mortgage Bankers Association’s annual advocacy conference in Washington Tuesday, Warner said, “This may surprise some folks, but I think the stars may align where you could actually see housing-finance reform happen in front of some of the Dodd-Frank reform.”
Warner, who co-authored a GSE reform bill four years ago, went on to say there appears to be more bipartisan consensus on housing finance. While he wasn’t clear on a timeline, the legislator said he and Sen. Bob Corker, R-TN, will be sitting down with Committee Chairman Mike Crapo, R-ID, and ranking member Sherrod Brown, D-OH, in the “very short future” to discuss reform.
He added that the Trump administration is genuinely interested in doing something about the ongoing conservatorships of Fannie Mae and Freddie Mac. Warner also dished on GSE reform plans issued by the Mortgage Bankers Association, The Milken Institute and the Urban Institute: “I think we have an intellectual foundation where all three entities are at least in the same room.”