Obama seeks comments from pubilc on housing reforms

Obama seeks input on housing reformsIf you're itching to get your two cents in on the future of the housing financial system -- and who isn't? -- now's your chance.

The Obama Administration has released questions for public comment about Fannie Mae, Freddie Mac and the overall role of the federal government in housing policy, among other issues.

Who gets to chime in? Market participants, industry groups, academic experts and consumer and community organizations. The questions will be published in a Federal Register notice requesting public comments, which also will detail how to submit comments.

"Hearing from a wide variety of perspectives as we embark on the process is an important part of establishing a more stable and sound housing finance system for the American people," Treasury Secretary Tim Geithner said in a Treasury Department release. "This open process will help shape the future of our housing finance system."

So, how's this done? The public may submit written responses to questions at the Federal Register online at www.regulations.gov. Also, public forums will be held nationwide on housing financial reform. The goal is for the public to help the federal government understand the issues and shape the policy going forward. You don't get that chance every day.

Following are the questions released by the Treasury Department last week, which the public may address online:
  1. How should federal housing finance objectives be prioritized in the context of the broader objectives of housing policy?
  2. What role should the federal government play in supporting a stable, well-functioning housing finance system and what risks, if any, should the federal government bear in meeting its housing finance objectives?
  3. Should the government approach differ across different segments of the market, and if so, how?
  4. How should the current organization of the housing finance system be improved?
  5. How should the housing finance system support sound market practices?
  6. What is the best way for the housing finance system to help ensure consumers are protected from unfair, abusive or deceptive practices?
  7. Do housing finance systems in other countries offer insights that can help inform U.S. reform choices?
For examples of comment guidelines, check out the release.

Comment now or forever hold your peace!
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