Significant reform of Fannie Mae and Freddie Mac may be still up to two years away, according to the Securities Industry and Financial Markets Association. A SIFMA official said in a conference call that the Department of the Treasury is expected to release a white paper later this month that includes recommendations for reforming the housing market. Implementation of any those recommendations could take years to complete. During the call, Tim Ryan, president of SIFMA, said, “Financial services remain frustrated by the inability to effectively jump-start the [private-label] securitization business.”
