NAR CFA UPDATE
On Thursday, October 29, 2015, the temporary legislation keeping America’s surface transportation programs running will expire.
One proposal would use Fannie Mae and Freddie Mac’s credit risk guarantee fees (g-fees) to fund an extension of transportation programs.
The National Association of REALTORS® (NAR) "strongly believes that a new tax on homeowners would also prevent Fannie Mae and Freddie Mac from effectively managing their risk."
NAR has issued a Call for Action, asking all REALTORS® to contact lawmakers to protect homeownership. The message:
"G-fees are a critical risk management tool used by Fannie Mae and Freddie Mac to protect against losses from faulty loans, and should be used only to manage the companies' credit risks. I am opposed to the use of g-fees for purposes other than risk management."
It only takes a minute of our time. Please CLICK HERE to fill out a short form to help us stop congress from taking money from future homeowners.
So far, over 100,000 REALTORS® have sent their message to Congress - have you taken action yet?
Why this is important
- G-fees should only be used as a risk management tool for Fannie Mae and Freddie Mac, not a transportation piggy bank.
- We need to work together to prevent Congress from taking money from future homeowners.
- The bill would add one more road block to homeownership and we don't want this.
- Passing a new highway bill is important, and we support many of the provisions in the legislation, but we can’t support funding the highway bill through the use of G-Fee revenue.
What it boils down to...
Should homeowners pay an additional homeownership fee that the U.S. government will use to pay for road construction and maintenance? We believe the answer is NO.
