Hidden GSE reform provision opens door for ‘housing serving renters’

Rental investors may have scored a secret success in Washington thanks to three words in the Senate’s latest housing reform proposal. The Crapo-Johnson bill, which aims to wind down Fannie Mae and Freddie Mac and replace them with a new Federal Mortgage Insurance Corporation (FMIC), contains language that could open the door to government involvement in the nascent and controversial home rental securitization market.