John Carney: “It is time to end this destructive government shutdown. It just doesn't make any sense, and it's hurting people, and…”

“It is time to end this destructive government shutdown. It just doesn't make any sense, and it's hurting people, and it's hurting the economy. While Congress is wasting time on the shutdown, we have important work to do. We need to reform our housing finance system. Right now, the Federal Government backs over 90 percent of all mortgages being made. That's just not sustainable. We have to bring private capital back into the markets, and we have to reduce the government's role, but we have to do it in a smart way. For generations, owning a home has been part of the American Dream. The 30-year fixed-rate mortgage has made that dream possible for many of us, and so our number one priority in reforming our housing finance system should be preserving the 30-year fixed-rate mortgage. But the legislation currently moving through the House doesn't do that. That's why we need to work together on both sides of the aisle to fix that problem. We need to reform our housing finance system and protect taxpayers, but we also must preserve home ownership for millions of American families. ____________________”