Momentum is fading in the Johnson-Crapo Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) reform legislation, according to a research note from Barclays.
Initially, Barclays had noted that strong Democratic support was required for the bill to have success, but now the investment bank views four major obstacles.
The first obstacle is from the liberal activist movement. “Several influential civil rights groups cited Johnson-Crapo’s lack of provisions to ensure the housing finance system is non-discriminatory,” is one complaint the research note cited.
Fannie Mae, Freddie Mac reform: Not spending political...
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