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    Fannie-Freddie 2.0: Government Housing Polices Shouldn’t Get a Free Pass

    Secretary of Housing and Urban Development (HUD) Shaun Donovan lamented statistics from a Pew report showing Hispanics lost 66 percent of their net worth between 2005 and 2009. He went on to say: Think about all the home equity, all the savings and all the retirement funds and other assets … More

    Housing Finance: Fannie–Freddie 2.0

    Josh Rosner, who in Reckless Endangerment (2011) exposed the cronyism of Fannie Mae and warned of a meltdown of the government-sponsored enterprises (GSEs) as far back as 2001, recognizes that the Johnson–Crapo housing finance bill gives us Fannie–Freddie 2.0: Rather than fix these problems, legislators seek to demolish the current … More

    Johnson–Crapo Housing Finance Reform Misguided

    Senators Tim Johnson (D–SD) and Mike Crapo (R–ID) recently released their new housing finance reform bill. As expected, the new bill makes the bad features of its Senate companion even worse. >>> Check Out: Johnson–Crapo Housing Finance Reform Misguided The core of both this bill and the one introduced by Senators … More

    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

    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

    Will the Federal Housing Finance Agency Forgive Borrowers’ Debts?

    Today Representative Mel Watt (D–NC) assumes his position as director of the Federal Housing Finance Agency (FHFA), which manages the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. Acting director (since 2009) Ed DeMarco’s departure could mark just the beginning of several key policy shifts at the FHFA, such as … More