For Immediate Release
Lawyers’ Committee for Civil Rights Under Law Condemns Trump Administration’s Proposal to Reform Housing Policy
WASHINGTON - 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.”
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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. The principal mission of the Lawyers' Committee is to secure, through the rule of law, equal justice under law.