Law Commons^™

Testing Fannie Mae's And Freddie Mac's Post-Crisis Self-Preservation Policies Under The Fair Housing Act, Shelby D. Green

Cleveland State Law Review

Beginning in the 1930s, the federal government adopted programs and policies toward safe and decent housing for all. The initiatives included the creation of the Federal Housing Administration that, among other things, spurred mortgage lending by guaranteeing mortgage loans to low- and moderate-income borrowers. The creation of the secondary mortgage market by Fannie Mae and Freddie Mac (GSEs) helped provide more liquidity for loan originators. However, somewhere along the way, these GSEs lost their way, as they pursued profitability without regard to risk and heedlessly bought mortgages without considering quality.

The overabundance of poor quality mortgages led to the housing …

Effect Of Usury Laws On Home Ownership Needs, Richard S. Stoddart, Earl R. Hoover

Cleveland State Law Review

In this paper we examine usury laws which thwart the thrift industry, particularly savings and loan associations, from entering fully into the needed home financing picture of the 1970's. If there is virtue in owning a home, be it a normal house, mobile home, condominium or a 99-year leasehold, (and the very basis of American life suggests that there is), and if the predicted housing boom is actually to occur, substantial changes should be made in laws which frustrate home financing.