The National Association of Home Builders said it was encouraged to hear President Barack Obama say he supported a continued role for the federal government in the home mortgage industry.
"NAHB applauds President Obama for affirming the importance of maintaining a federal backstop as part of efforts to revamp the housing finance system and protect the 30-year mortgage,” said NAHB Chairman Rick Judson. “This will preserve financial stability, promote investor confidence and limit taxpayer exposure.”