Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
Message In A Mortgage: What Dodd-Frank's 'Qualified Mortgage' Tells Us About Ourselves, David J. Reiss
Message In A Mortgage: What Dodd-Frank's 'Qualified Mortgage' Tells Us About Ourselves, David J. Reiss
David J Reiss
This essay outlines the ethics that shape federal housing finance policy and situates them in the context of the Dodd-Frank Act. In a way, however, it asks a simpler question: what do our mortgages tell us about our society? The essay proceeds as follows. First, it outlines three ethics that inform American housing finance policy generally. Second, it contrasts two mortgages: the one from the subprime boom of the early 2000s and the other from Dodd-Frank, the “Qualified Mortgage.” It concludes by using the three ethics to answer the question posed above and outlining what is at stake in the …
Fannie Mae And Freddie Mac: Creatures Of Regulatory Privilege, David J. Reiss
Fannie Mae And Freddie Mac: Creatures Of Regulatory Privilege, David J. Reiss
David J Reiss
This book chapter addresses the appropriate role of Fannie Mae and Freddie Mac, the government-chartered, privately owned mortgage finance companies, in the United States housing finance sector. The federal government recently placed Fannie and Freddie in conservatorship. These two massive companies are profit-driven, but as government-sponsored enterprises they also have a government-mandated mission to provide liquidity and stability to the United States mortgage market and to achieve certain affordable housing goals. How the two companies should exit their conservatorship has implications that reach throughout the global financial markets and are of key importance to the future of American housing finance …