While conditions in the housing and housing finance markets showed signs of improvement in 2013, the latter continues to require significant reform to enhance financial stability, Department of the Treasury Sec. Jacob J. Lew told members of the House Financial Services Committee in a recent hearing.
During the June 24 hearing, where Lew presented the Financial Stability Oversight Council’s (FSOC) 2014 annual report, he touted the accomplishments in housing finance reform to date, but said he considers it to be “the unfinished business that didn’t get addressed in the immediate wake of the financial crisis.”