01/18/2017
https://www.congress.gov...
"As families back in New Jersey, whether they own their homes or they are renting, are struggling through these tough times, we need to make sure that they have access to 30-year fixed-rate mortgages."
"And, of course, those costs would be significant over the life of a loan."
"And one of the challenges I see is what if we completely eliminate the GSEs, as some are proposing?"
"Let me ask you, Professor Levitin, in the days before GSEs, loans were generally renewed every 3 to 5--or due every 3 to 5 years and had to be refinanced all the time because lenders were not willing ..."