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How Government Guarantees In Housing Finance Promote Stability, David Min
How Government Guarantees In Housing Finance Promote Stability, David Min
David Min
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 …
How Government Guarantees In Housing Finance Promote Stability, David Min
How Government Guarantees In Housing Finance Promote Stability, David Min
David Min
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 …