Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Law
False Security: How Securitization Failed To Protect Arrangers And Investors From Borrower Claims, Kathleen C. Engel, Thomans J. Fitzpatrick
False Security: How Securitization Failed To Protect Arrangers And Investors From Borrower Claims, Kathleen C. Engel, Thomans J. Fitzpatrick
kathleen c engel
False Security: How Securitization Failed to Protect Arrangers and Investors from Borrower Claims
by Kathleen C. Engel and Thomas J. Fitzpatrick IV
The future of housing finance is in a state of flux. Fannie Mae and Freddie Mac, the two largest loan arrangers in the United States, are in conservatorship. Private sector securitization of mortgages has almost completely stopped. As a result, Fannie, Freddie and Ginnie Mae now own or guarantee almost all new residential mortgage loans. In February 2011, the Obama Administration released a proposal outlining three plans for the future of housing finance. In all three plans, Freddie …