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Author:
Publisher:
ISBN:
Category : Government-sponsored enterprises
Languages : en
Pages : 31
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Book Description
Author:
Publisher:
ISBN:
Category : Government-sponsored enterprises
Languages : en
Pages : 31
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Book Description
Author: U. S. Department U.S. Department of the Treasury
Publisher: CreateSpace
ISBN: 9781512164350
Category :
Languages : en
Pages : 32
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Book Description
This paper lays out the Administration's plan to reform America's housing finance market to better serve families and function more safely in a world that has changed dramatically since its original pillars were put in place nearly eighty years ago. Our plan champions the belief that Americans should have choices in housing that make sense for them and for their families. This means rental options near good schools and good jobs. It means access to credit for those Americans who want to own their own home, which has helped millions of middle class families build wealth and achieve the American Dream. And it means a helping hand for lower-income Americans, who are burdened by the strain of high housing costs.
Author: Department of Department of the Treasury
Publisher: CreateSpace
ISBN: 9781499397307
Category :
Languages : en
Pages : 32
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Book Description
The Administration will work with the Federal Housing Finance Agency ("FHFA") to develop a plan to responsibly reduce the role of the Federal National Mortgage Association ("Fannie Mae") and the Federal Home Loan Mortgage Corporation ("Freddie Mac") in the mortgage market and, ultimately, wind down both institutions. We recommend FHFA employ a number of policy levers - including increased guarantee fee pricing, increased down payment requirements, and other measures - to bring private capital back into the mortgage market and reduce taxpayer risk. As the market improves and Fannie Mae and Freddie Mac are wound down, it should be clear that the government is committed to ensuring that Fannie Mae and Freddie Mac have sufficient capital to perform under any guarantees issued now or in the future and the ability to meet any of their debt obligations. We believe that under our current Preferred Stock Purchase Agreements (PSPAs), there is sufficient funding to ensure the orderly and deliberate wind down of Fannie Mae and Freddie Mac, as described in our plan.
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 62
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Book Description
Author: Satya Thallam
Publisher:
ISBN: 9780989219327
Category : Housing
Languages : en
Pages : 216
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Book Description
Fannie Mae and Freddie Mac-privately managed, profit-seeking government-sponsored enterprises (GSEs)-played a crucial role in inflating America's housing bubble. Now that the bubble has burst and the GSEs' mistakes have resulted in huge taxpayer losses, their role must be rethought. In this compendium, six leading mortgage and real-estate finance scholars present their proposals to reform America's housing finance system in ways that are productive yet sensitive to the fragile state of the current recovery. Each proposal considers how to protect taxpayers from future losses associated with the GSEs, increase the role of private capital in financing mortgages, and maintain a safe and robust system to channel capital to able borrowers.
Author: Susan M. Wachter
Publisher: University of Pennsylvania Press
ISBN: 0812248627
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
Nearly a decade after the housing market's collapse triggered the Great Recession, members of both sides of the political aisle are calling for reform. Principles of Housing Finance Reform lays out a roadmap for reforms for a new housing finance system to achieve liquidity, access, and sustainability.
Author:
Publisher: IDB
ISBN: 9781931003629
Category : Housing
Languages : en
Pages : 116
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Book Description
Author: Benjamin W. Virtanen
Publisher:
ISBN: 9781613243503
Category : Housing
Languages : en
Pages : 0
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Book Description
This book examines the Administration's plan to reform America's housing finance market to better serve families and function more safely in a world that has changed dramatically since its original pillars were put in place nearly eighty years ago. Americans should have choices in housing that make sense for them and for their families. This means rental options near good schools and good jobs, as well as access to credit for those Americans who want to own their own home, which has helped millions of middle class families build wealth and achieve the American Dream. Going forward, the government's primary role should be limited to robust oversight and consumer protection, targeted assistance for low-and moderate-income homeowners and renters, and carefully designed support for market stability and crisis response.
Author: Martin Neil Baily
Publisher: Rowman & Littlefield
ISBN: 0815722095
Category : Business & Economics
Languages : en
Pages : 225
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Book Description
Fannie Mae and Freddie Mac, government-sponsored enterprises that played a prominent role in the financial crisis of 2008, and the federal government have come to a crossroads. The government must make key decisions about their structure, and indeed, their very existence. The government has played an important role in the American housing market since the early 1930s, when the Great Depression ushered in housing programs to promote a stable society. The government's role expanded further during the recent housing and financial crisis—Fannie Mae and Freddie Mac now dominate the American housing market, backing more than 62 percent of new mortgages and holding more than $5 trillion in accumulated mortgage risk. In The Future of Housing Finance Martin Baily and his associates discuss the issues and options that policymakers face as they reassess the government's role in the U.S. residential mortgage market. While presenting diverse analytical perspectives, including a contribution from former chairman of the Federal Reserve Alan Greenspan, all contributors agree that the government's support for mortgage financing in the recent past was too broad and deep but some role is necessary to maintain the stability of the housing finance market. The Obama administration has recommended reducing the role of Fannie and Freddie while replacing them with a private market approach, but continuing federal support for worthy borrowers. But what will Congress agree to? And how fast will it move on any initiative? Specific topics include: • Introduction of a new system to reduce incentives that encourage excessive risk taking. • Gradual withdrawal of Fannie and Freddie from the housing finance system. • New approaches to regulating mortgage securitization, with financial stability as a primary goal. • Use of government-backed guarantees through institutional structures designed to limit moral hazard.
Author: Loic Chiquier
Publisher: World Bank Publications
ISBN: 0821377515
Category : Social Science
Languages : en
Pages : 540
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Book Description
Housing finance markets have been changing dramatically in both emerging and developed economies. On the one hand, housing finance markets are expanding and represent a powerful engine for economic growth in many emerging economies. However, the unfolding sub-prime mortgage crisis highlights the risks and potential turbulence that this sector can introduce into the financial system when expanding without proper infrastructure and regulation. As housing finance keeps growing in emerging economies to match a rising demand for housing, new risk management approaches, business models, funding tools, and policy instruments can help. Yet many questions remain about the right balance between innovation and regulation, the extent of risks to the financial system, the appropriate role of the state to promote affordable housing, and the effects of the sub-prime crisis. This book provides a guide for policymakers dealing with housing finance in emerging markets. It highlights the prerequisites for an effective housing finance system; it lays out several policy alternatives and models of housing finance; and it explores the role of governments in expanding access to housing finance for lower-income households. There is no "best" model set out in this book. The aim is to provide a developmental roadmap that can be tailored and sequenced to each country's situation and timing.
