The new platform of the Republican Party calls for downsizing the Federal Housing Administration (FHA) mortgage insurance program and winding down the “size and scope” of Fannie Mae and Freddie Mac’s secondary market activities.
“The FHA, which tripled in size to more than $1 trillion under the current administration, has crowded out the private sector and is at risk of requiring a taxpayer bailout,” says the GOP platform statement released midweek in Tampa. “It must be downsized and limited to helping first-time homeowners and low- and moderate-income borrowers.”
