The ads by the group Sixty Plus are inaccurate and misleading. That was the finding by the nonpartisan group FactCheck-dot-org. In addition, groups including the National Bankers Association, Mortgage Bankers, Homebuilders and the Consumer Federation of America say these ads by Sixty Plus use scare tactics to mislead people in an effort to derail bipartisan housing finance reforms.

Senator Warner has spent two years working on this bipartisan reform legislation. His reform proposals encourage a larger role for the private sector in mortgage finance. This bipartisan proposal winds down Fannie Mae and Freddie Mac but has private businesses replace them to make sure Virginia families can still access affordable mortgages. The Warner proposal also protects taxpayers from any more bailouts if the mortgage industry gets into financial trouble again, like it did in 2008.

Senator Warner's housing finance reforms have been the subject of ten public hearings by the Senate Banking Committee, and the bipartisan legislation is cosponsored by six Republicans and six Democrats who serve on the Banking Committee.