Group tied to Koch brothers buy ads critical of housing changes

SHARE Group tied to Koch brothers buy ads critical of housing changes

WASHINGTON — A seniors group with ties to the conservative billionaire Koch brothers is running ads trying to block a Senate proposal to dismantle mortgage giants Freddie Mac and Fannie Mae.

The conservative 60 Plus Association on Monday announced ads against three Democrats and four Republican members of the Senate Banking Committee. The ads say the changes could cost retirees money invested in bonds.

The committee is set to take up a bipartisan measure in April that would revamp the nation’s housing financing system.

The ads compare the proposal to Democrats’ national health care law. The ads’ narrator urges lawmakers “don’t bring Obamacare to the mortgage industry.”

Fannie and Freddie don’t directly make loans. They buy mortgages from lenders, package them as bonds, guarantee them against default and sell them to investors.

PHILIP ELLIOTT, Associated Press

The Latest
Mike Pence, the nation’s 48th vice president, will join former President Donald Trump and Florida Gov. Ron DeSantis in the crowded Republican field.
Relatives and friends release white and pink balloons to honor Terry’a Adams, 25, who was looking forward to going to school to become a nurse in August.
The men, ages 22 and 24, were walking in the 1300 block of West 13th Street when they were struck by gunfire, police said. They are both hospitalized.
AM radio has a decadeslong history in Chicago, but the industry faces the prospect of losing easy access to listeners in their cars.
The awards, considered the Oscars of the culinary world, were presented on Monday night.