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    HAMP: Focusing on Mortgage Relief Programs Misses the Big Picture

    The Washington Post has an article detailing the ups and downs of the Obama Administration’s Home Affordable Modification Program (HAMP). Heritage previously pointed out several flaws with HAMP, and it’s no surprise that nearly 30 percent of those who qualified for the program have re-defaulted on their mortgages. The Post … More

    Focus on Eliminating Housing GSEs, Not Giving Them a Duty to Serve

    As Congress continues to delay shutting down the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, affordable housing advocates are ramping up the pressure on the federal government to fund “housing for the poor.” These groups may have good intentions, but their way of thinking is typical of the dangers … More

    Revenue from GSEs Continuing to Distract from Housing Finance Reform

    Freddie Mac and Fannie Mae—the two government-sponsored enterprises (GSEs)—are back in the news again, this time because they appear to be helping taxpayers by reducing the deficit. The latest reports predict that Freddie Mac, one of the housing GSEs, will send “$10.4 billion to the Treasury Department next month, bringing … More

    Congress to Mega Banks: It Was All Your Fault—Pay No Attention to the GSEs

    Last week, Chairman Dave Camp (R–MI) outlined a new reform proposal that included a punitive tax on some of the largest banks in the U.S. The Chairman should be commended for tackling the complex issue of reforming our tax system, but it’s not at all clear what imposing an arbitrary … More

    Pawlenty Joins the Fight to End Fannie and Freddie

    Two Financial Services Roundtable executives, former Governor Tim Pawlenty (R–MN) and former Navy Secretary John Dalton, have penned an article that highlights the key points in the housing finance reform debate. In particular, the article pointedly calls for an end to the government guarantees of government-sponsored enterprises (GSEs) Fannie Mae … More

    How to Free the Housing Market from Government—and Lower Your Mortgage Payments

    President Obama said something truly great in his State of the Union Address this year. He told Congress: [S]ince the most important investment many families make is their home, send me legislation that protects taxpayers from footing the bill for a housing crisis ever again, and keeps the dream of … More

    GSE Reform: Eliminate Fannie and Freddie, but Don’t Replace Them

    The President’s State of the Union address overshadowed some very important news relating to housing finance reform. Last Wednesday, Senators Bob Corker (R–TN) and Mark Warner (D–VA) promised to renew efforts to pass a bill they introduced in June 2013 that would close down Fannie Mae and Freddie Mac. It … More

    GSE Reform: Fannie and Freddie Revenue Distracting from Housing Finance Reform

    Despite what a growing number of voices are postulating, Fannie Mae and Freddie Mac have not returned to profitability. The two former government-sponsored enterprises (GSEs) are generating revenue, but it’s not because the U.S. housing finance system has been fixed. The three main reasons the GSEs are flooding the Treasury … More

    Congress Is Right to Keep the Housing Trust Funds Closed

    Affordable housing groups are hoping that new Federal Housing Finance Agency (FHFA) director Mel Watt will reverse course and finally fill two national housing trust funds with money. But, in a preemptive move, Representative Ed Royce (R–CA) has introduced the Pay Back the Taxpayers Act of 2014 (H.R. 3901) that … More

    GSE Reform: FHFA Move to Crowd Out Private Mortgage Capital

    Newly appointed Federal Housing Finance Agency (FHFA) Director Mel Watt is delaying the scheduled increases of the guarantee fee that Fannie Mae and Freddie Mac charge mortgage lenders. This misguided move will discourage other firms from competing in the secondary mortgage market Fannie and Freddie charge this guarantee fee (or … More