Washington, D.C. – In Response to the Trump Administration’s proposal to reform the housing finance system and remove government-sponsored entities (GSEs) from conservatorship – notably, mortgage giants Fannie Mae and Freddie Mac – Kristen Clarke, president and executive director of the Lawyers’ Committee for Civil Rights Under Law made the following statement:
“The privatization of Fannie Mae and Freddie Mac is yet another instance of the Trump Administration rolling back the role of the federal government in housing. These two GSEs guarantee approximately one-half of all mortgages in the United States. The privatization of Fannie and Freddie has the potential to increase mortgage rates and reduce credit available to low- and moderate-income borrowers and thus widen the racial homeownership gap.”
About the Lawyers’ Committee for Civil Rights Under Law
The Lawyers’ Committee for Civil Rights Under Law, a nonpartisan, nonprofit organization, was formed in 1963 at the request of President John F. Kennedy to involve the private bar in providing legal services to address racial discrimination. Now in its 56th year, the Lawyers’ Committee for Civil Rights Under Law is continuing its quest to “Move America Toward Justice.” The principal mission of the Lawyers’ Committee for Civil Rights Under Law is to secure, through the rule of law, equal justice for all, particularly in the areas of criminal justice, fair housing and community development, economic justice, educational opportunities, and voting rights.
Contact
Reynolds Graves, Lawyers’ Committee, RGraves@LawyersCommittee.org, 202-662-8375
