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I N D U S T R Y R E A C T I O N / M I K E A L B A N E S E
TV personality Geraldo Rivera made waves in 1986
when it was announced that he would be opening
Al Capone's secret Chicago vault. Speculation ran
rampant as to what could be inside it.
More than 30 million viewers tuned in on
April 21, 1986. A forensics examiner was even
on hand in the event a body was found. What
did they find?
Dirt and some empty bottles. Not exactly
what the millions of viewers, or Rivera for that
matter, wanted to see.
While it may not be mob secrets, the housing
industry has been anticipating the release of
the U.S. Department of the Treasury's plan to
reform housing finance.
eir reaction now that is has been released?
Much like those who tuned into Rivera's
special—seeking more.
REACTION TO THE PLAN
"It still leaves all the work to be done,"
said David Stevens, former Federal Housing
Commissioner and former President and CEO
of the Mortgage Bankers Association.
Stevens noted that the plan did a good job
of providing options and applauded the push
for further legislation, as he said that is the only
way to create permanent change.
He added that the plan is aligned with
many of the talking points the Trump
administration has discussed over the past
three years. A model presented by U.S. Senator
Mike Crapo (R-Idaho), Chairman of the U.S.
Speculation and skepticism abound
after the Treasury Department
released its plan to privatize the
GSEs. DS News speaks to insiders
about whether the plan will ultimately
come to fruition.
