Montana State Representative Bob Lake Cautions Against Extensive GSE Reform

Representative Bob Lake, Montana House District 88, explains why the nation still needs “the full stabilizing effects of Fannie and Freddie.” In an op-ed in the Montana Standard, “Housing: Little Reform Goes Long Way,” Lake cautions against extensive GSE reforms that call for privatization and limiting portfolio size and innovation. “Any reform should be done carefully,” he writes. “Without the backstop Fannie and Freddie provide, banks would be less willing to offer mortgages to many low-income individuals and families, minorities, first-time buyers, veterans and seniors.”