The nation’s housing finance system is still in need despite the fact Fannie Mae and Freddie Mac are now turning a profit, argue Bipartisan Policy Center Housing Commission Co-Chair Henry Cisneros and former U.S. Senator Mel Martinez in a recent blog post. The two warn that another significant downturn in the housing market may require another drawdown of taxpayer dollars to keep the two housing finance institutions afloat. In the absence of Congress passing reform legislation, they argue the responsibility to make important changes has fallen to the Federal Housing Finance Authority or the institutions themselves.
