Romney’s Housing Plan

by Katrina Trinko

Mitt Romney released a few more details on his housing policy today:

 

 The Romney-Ryan Plan To End The Housing Crisis

The Romney-Ryan plan will reduce the outsized role of the government and revitalize the private sector’s role in the housing market to end the housing crisis and preserve the American Dream of homeownership.

End “Too-Big-To-Fail” And Reform Fannie Mae And Freddie Mac:  A Romney-Ryan Administration will protect taxpayers from additional risk in the future by reforming Fannie Mae and Freddie Mac and provide a long-term, sustainable solution for the future of housing finance reform in our country.

Responsibly Sell The 200,000 Vacant Foreclosed Homes Owned By The Government: The Romney-Ryan plan will get the federal government out of the landlord business by responsibly selling 200,000+ vacant foreclosed homes in a way that will enhance communities. This will eliminate over half of the foreclosed homes that are blighting neighborhoods.

 Make Foreclosure Alternatives Easier:  A Romney-Ryan Administration will make it easier for homeowners to get alternatives to foreclosure, such as short sales, deed-in-lieu-of-foreclosure and shared appreciation.

Sensible, Not Overly Complex, Financial Regulation That Gets Credit Flowing Again: By replacing the Dodd-Frank Act with sensible regulation, a Romney-Ryan Administration will usher in a new era of responsible lending with sensible regulation to allow banks to approve loans to families with good credit rather than rejecting their mortgage applications.

Improve The Job Market:  The best way to help the housing market is to get the economy going and get America back to work.  The Romney-Ryan jobs plan will create 12 million jobs in the next four years. 

The full white paper — which doesn’t offer much more in the way of concrete details regarding how specifically, for instance, Fannie and Freddie will be reformed — can be read here.