WASHINGTON, D.C. (Real Estate Center) – For the past few months, Real Estate Center Research Analyst Gerald Klassen has been toiling away on a proposal that would restructure the secondary mortgage market.
Yesterday, he took that proposal to Washington, D.C., where he presented it to Dr. Lawrence Yun and other leaders from the National Association of Realtors (NAR).
NAR has formed an internal Presidential Advisory Group to examine alternative market structures. To date, NAR has developed a set of principles for market restructuring to ensure there is sufficient capital to support mortgage lending in all types of markets for qualified borrowers.
In June, NAR requested information and analysis from a select group of housing and finance experts on possible alternatives for the structure of the secondary mortgage market.