Download or read book Stabilizing the System of Mortgage Finance in the United States written by Richard Koss and published by International Monetary Fund. This book was released on 2017-08-08 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: It has been over a decade since the peak of house prices in the US was attained, and while there has been a concerted regulatory response to the subsequent collapse, the two Government Sponsored Enterprises (GSEs) remain in conservatorship. While this action served to forestall a deeper crisis at the time, over the past several years risks related to the system of mortgage finance can be seen building across several dimensions that need to be addressed. While reforms to the GSEs are an important part of dealing with these concerns, this paper argues that broader changes need to be made across the entire mortgage landscape to stabilize the system, even before the final state of the GSEs is fully determined.
Download or read book Stabilizing the System of Mortgate Finance in the United States written by Richard Koss and published by . This book was released on 2017 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: It has been over a decade since the peak of house prices in the US was attained, and while there has been a concerted regulatory response to the subsequent collapse, the two Government Sponsored Enterprises (GSEs) remain in conservatorship. While this action served to forestall a deeper crisis at the time, over the past several years risks related to the system of mortgage finance can be seen building across several dimensions that need to be addressed. While reforms to the GSEs are an important part of dealing with these concerns, this paper argues that broader changes need to be made across the entire mortgage landscape to stabilize the system, even before the final state of the GSEs is fully determined.
Download or read book To Provide for the Establishment of a Federal Mortgage Bank written by United States. Congress. Senate. Committee on Banking and Currency and published by . This book was released on 1936 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The American Mortgage System written by Susan M. Wachter and published by University of Pennsylvania Press. This book was released on 2011-05-31 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: Successful home ownership requires the availability of appropriate mortgage products. In the years leading up to the collapse of the housing market, home buyers frequently accepted mortgages that were not only wrong for them but catastrophic for the economy as a whole. When the housing market bubble burst, so did a cornerstone of the American dream for many families. Restoring the promise of this dream requires an unflinching inspection of lending institutions and the right tools to repair the structures that support solid home purchases. The American Mortgage System: Crisis and Reform focuses on the causes of the housing market collapse and proposes solutions to prevent another rash of foreclosures. Edited by two leaders in the field of real estate and finance, Susan M. Wachter and Marvin M. Smith, The American Mortgage System examines key elements of the mortgage meltdown. The volume's contributors address the influence of the Community Reinvestment Act, which is often blamed for the crisis. They uncover how the government-sponsored enterprises Fannie Mae and Freddie Mac invested outside the housing market with disastrous results. They present surprising information about low-income borrowers and the strengths of local banks. This collection of thoughtful studies includes extensive analysis of loan practices and the creation of unstable mortgage securities, presenting data largely unavailable until now. More than a critique, The American Mortgage System offers solutions to the problems facing the future of American home ownership, including identifying asset price bubbles, calculating risk, and preventing discrimination in lending. Measured yet timely and by turns provocative, The American Mortgage System provides a careful assessment of a troubled but indispensable part of the economic and social structure of the United States. This book is a sound investment for economists, urban planners, and all who shape public policy.
Download or read book The Future of the Mortgage Market and the Housing Enterprises written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2010 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Congress Should Control Federal Credit Programs to Promote Economic Stabilization written by United States. General Accounting Office and published by . This book was released on 1981 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book How Government Guarantees Promote Housing Finance Stability written by David Min and published by . This book was released on 2015 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the aftermath of the financial crisis, major reforms of the U.S. housing finance system are likely. One of the key issues facing policy makers in this area is whether and to what extent the federal government should maintain its current role in the residential mortgage markets. Since the New Deal, the federal government has guaranteed the primary sources of housing finance in the United States -- bank and thrift deposits, and the obligations of the mortgage securitization conduits Fannie Mae, Freddie Mac, and Ginnie Mae. The prevailing view of government guarantees is that they increase financial instability because they encourage excessive risk-taking and reduce market discipline. But this perspective fails to explain why such guarantees have been closely correlated with stability in the housing finance system through our nation's history. Incorporating historical and economic analyses, this Article challenges the conventional wisdom around government guarantees in U.S. housing finance, and argues that these guarantees actually help to promote stability in several important ways: they prevent banking panics, they limit the formation of credit bubbles, and they promote the origination of consumer-friendly loans that are less likely to default. The Article concludes with the new and counterintuitive proposition that the positive stabilizing effects of U.S. mortgage guarantees far outweigh their destabilizing effects, which is why guarantees have been so closely tied to financial stability.
Download or read book Turmoil in the U S Credit Markets written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2010 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mortgage Finance Reform written by United States. Congress. House. Committee on Financial Services and published by . This book was released on 2011 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Debt Financing Problems of State and Local Government written by United States. Congress. House. Committee on Banking, Currency and Housing. Subcommittee on Economic Stabilization and published by . This book was released on 1975 with total page 2264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Is Treasury Using Bailout Funds to Increase Foreclosure Prevention as Congress Intended written by United States. Congress. House. Committee on Oversight and Government Reform. Subcommittee on Domestic Policy and published by . This book was released on 2009 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book To Provide for the Termination of Any Loan Guarantee Made Under the Emergency Loan Guarantee Act written by United States. Congress. House. Committee on Banking, Currency and Housing. Subcommittee on Economic Stabilization and published by . This book was released on 1976 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Implications of the too Big to Fail Policy written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Economic Stabilization and published by . This book was released on 1991 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: Distributed to some depository libraries in microfiche.
Download or read book The Future of Housing Finance written by Martin Neil Baily and published by Rowman & Littlefield. This book was released on 2011-09-30 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Stabilizing China s Housing Market written by Richard Koss and published by International Monetary Fund. This book was released on 2018-04-13 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sharp rise of house prices in China’s Tier-1 cities has fostered a great deal of commentary about the possibility of bubbles forming there. However, China’s unique housing market characteristics make it difficult to assess the macroeconomic severity of bursting bubbles, even if they exist. These include the setting of land supply and prices by the government, among many others. The presence of overbuilt “ghost cities” greatly complicates the ability of traditional macroeconomic policies to address these concerns. This paper looks at proposals to shore up the mortgage underwriting and legal infrastructure to help China withstand the impact of falling prices, should this occur.
Download or read book Mortgage Lending Reform written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2018-01-11 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mortgage lending reform : a comprehensive review of the American mortgage system : hearing before the Subcommittee on Financial Institutions and Consumer Credit, U.S. House of Representatives, One Hundred Eleventh Congress, first session, March 11, 2009.
Download or read book Bailout Bust Or Much Ado about Nothing written by United States. Congress. House. Committee on Financial Services and published by . This book was released on 2013 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
