Politico recently quoted Jason Gold, Director of PPI’s “Rebuilding Middle Class Wealth” project, on his thoughts regarding the next regulator of Fannie Mae and Freddie Mac:
“As the numbers mount, the defense for DeMarco grows,” said Jason Gold, senior fellow at the liberal Progressive Policy Institute.
More than 7 million homeowners owed more on their mortgage than their house is worth as of July, according to data analytics firm CoreLogic. But as house prices have been on a rise even in the hardest hit areas, the amount of these underwater borrowers is down nearly 20 percent from the beginning of the year.
The debate over who should be the next regulator of Fannie and Freddie is also pivoting away from who could best help struggling homeowners toward who can best manage the two companies as Congress debates ways to overhaul the housing finance system.
“We’re moving from recovery to reform,” Gold said.
Read the entire piece in Politico Pro here.