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http://www.cnbc.com/id/101606317
David H. Stevens, former Assistant Secretary for Housing in the Obama Administration, is the President & CEO of the Mortgage Bankers Association.
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Unfortunately, some groups bristle at the notion of Congressional action, instead choosing to embrace the status quo. These groups offer misleading information and comparisons to other unpopular, but unrelated initiatives, in an effort to derail this bipartisan reform effort, one that that has been years in the making. And here is the kicker — they have little interest in the long-term future of the housing market. They are in it for the short term; for the quick buck.
Who are they? That is not readily apparent, mainly because they hide behind altruistic-sounding names like "The 60 Plus Coalition" and "The Coalition for Mortgage Security." But they are, without a doubt, certain hedge funds and other third party groups who swooped in when Fannie and Freddie crashed, bought the companies' stocks for pennies and are trying to manipulate the debate in order to reap huge financial payoffs. They fear that if Congress succeeds in restructuring the GSEs, they would lose out."
usw.
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