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The Future Of Housing Finance
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Book Synopsis The Future of Housing Finance by : Martin Neil Baily
Download or read book The Future of Housing Finance written by Martin Neil Baily and published by Brookings Institution Press. This book was released on 2011 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Evaluates the options open to policymakers as they reassess the federal government's role in the U.S. residential mortgage market and consider a new system that reduces risk in mortgage lending, maintains a limited government role, and gradually removes the government-sponsored enterprises (Fannie Mae and Freddie Mac) from the mortgage market"--Provided by publisher.
Book Synopsis Fixing the Housing Market by : Franklin Allen
Download or read book Fixing the Housing Market written by Franklin Allen and published by Pearson Prentice Hall. This book was released on 2012 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains the financial history leading to the mortgage meltdown and assesses today's housing finance systems in the United States and abroad.
Book Synopsis Preventing the Next Mortgage Crisis by : Dan Immergluck
Download or read book Preventing the Next Mortgage Crisis written by Dan Immergluck and published by Rowman & Littlefield. This book was released on 2015-08-20 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: The great U.S. mortgage crisis was a transformative event that will reverberate for decades across families, neighborhoods, and cities. After years of research on various aspects of the crisis, Dan Immergluck examines what went wrong, identifying the factors that created the fragile housing finance system, which provided fertile ground for calamity. He also examines the federal response to the crisis, including who benefitted most from the response, and how a more effective and fair response could have been formulated. To reduce the incidence of future crises, Immergluck provides a pathway for building a more stable and fair housing finance system that would be less vulnerable to the booms and busts of global finance. Housing finance helps determine access to stable, decent-quality, affordable housing and also affects the geography of housing and educational opportunities. Thus, housing markets shape our communities, our neighborhoods, and our social and economic opportunities. Immergluck’s analysis and formulation of a way forward will be of particular interest to those concerned with urban form, neighborhood change and stability, and urban planning and policy, as well as those interested in housing and mortgage markets more generally.
Author :United States. Congress Publisher :Createspace Independent Publishing Platform ISBN 13 :9781981864393 Total Pages :88 pages Book Rating :4.8/5 (643 download)
Book Synopsis The Future of Housing Finance by : United States. Congress
Download or read book The Future of Housing Finance written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2017-12-20 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: The future of housing finance : a progress update on the GSEs : hearing before the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises of the Committee on Financial Services, U.S. House of Representatives, One Hundred Eleventh Congress, second session, September 15, 2010.
Book Synopsis The Future of Housing Finance by : Martin Neil Baily
Download or read book The Future of Housing Finance written by Martin Neil Baily and published by Rowman & Littlefield. This book was released on 2011-09-30 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fannie Mae and Freddie Mac, government-sponsored enterprises that played a prominent role in the financial crisis of 2008, and the federal government have come to a crossroads. The government must make key decisions about their structure, and indeed, their very existence. The government has played an important role in the American housing market since the early 1930s, when the Great Depression ushered in housing programs to promote a stable society. The government's role expanded further during the recent housing and financial crisis—Fannie Mae and Freddie Mac now dominate the American housing market, backing more than 62 percent of new mortgages and holding more than $5 trillion in accumulated mortgage risk. In The Future of Housing Finance Martin Baily and his associates discuss the issues and options that policymakers face as they reassess the government's role in the U.S. residential mortgage market. While presenting diverse analytical perspectives, including a contribution from former chairman of the Federal Reserve Alan Greenspan, all contributors agree that the government's support for mortgage financing in the recent past was too broad and deep but some role is necessary to maintain the stability of the housing finance market. The Obama administration has recommended reducing the role of Fannie and Freddie while replacing them with a private market approach, but continuing federal support for worthy borrowers. But what will Congress agree to? And how fast will it move on any initiative? Specific topics include: • Introduction of a new system to reduce incentives that encourage excessive risk taking. • Gradual withdrawal of Fannie and Freddie from the housing finance system. • New approaches to regulating mortgage securitization, with financial stability as a primary goal. • Use of government-backed guarantees through institutional structures designed to limit moral hazard.
Author :United States. Congress Publisher :Createspace Independent Publishing Platform ISBN 13 :9781983519529 Total Pages :118 pages Book Rating :4.5/5 (195 download)
Book Synopsis The Future of Housing Finance by : United States. Congress
Download or read book The Future of Housing Finance written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2018-01-04 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: The future of housing finance : the role of private mortgage insurance : hearing before the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises of the Committee on Financial Services, U.S. House of Representatives, One Hundred Eleventh Congress, second session, July 29, 2010.
Author :United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Publisher : ISBN 13 : Total Pages :208 pages Book Rating :4.:/5 (319 download)
Book Synopsis Public Proposals for the Future of the Housing Finance System by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Download or read book Public Proposals for the Future of the Housing Finance System written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2011 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Great American Housing Bubble by : Adam J. Levitin
Download or read book The Great American Housing Bubble written by Adam J. Levitin and published by Harvard University Press. This book was released on 2020-06-09 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive account of the housing bubble that caused the Great Recession—and earned Wall Street fantastic profits. The American housing bubble of the 2000s caused the worst global financial crisis since the Great Depression. In this definitive account, Adam Levitin and Susan Wachter pinpoint its source: the shift in mortgage financing from securitization by Fannie Mae and Freddie Mac to “private-label securitization” by Wall Street banks. This change set off a race to the bottom in mortgage underwriting standards, as banks competed in laxity to gain market share. The Great American Housing Bubble tells the story of the transformation of mortgage lending from a dysfunctional, local affair, featuring short-term, interest-only “bullet” loans, to a robust, national market based around the thirty-year fixed-rate mortgage, a uniquely American innovation that served as the foundation for the middle class. Levitin and Wachter show how Fannie and Freddie’s market power kept risk in check until 2003, when mortgage financing shifted sharply to private-label securitization, as lenders looked for a way to sustain lending volume following an unprecedented refinancing wave. Private-label securitization brought a return of bullet loans, which had lower initial payments—enabling borrowers to borrow more—but much greater back-loaded risks. These loans produced a vast oversupply of underpriced mortgage finance that drove up home prices unsustainably. When the bubble burst, it set off a destructive downward spiral of home prices and foreclosures. Levitin and Wachter propose a rebuild of the housing finance system that ensures the widespread availability of the thirty-year fixed-rate mortgage, while preventing underwriting competition and shifting risk away from the public to private investors.
Book Synopsis The Future of Housing in America by : United States. Congress. House. Committee on Financial Services
Download or read book The Future of Housing in America written by United States. Congress. House. Committee on Financial Services and published by . This book was released on 2015 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Housing and the New Financial Markets by : Richard L. Florida
Download or read book Housing and the New Financial Markets written by Richard L. Florida and published by Routledge. This book was released on 1986 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1990s witnessed a revolution in the way the United States finances housing. Gone is the insulated system of thrifts whose special job was to collect savings deposits and issue mortgages. Gone too are the institutional foundations of this system - the passbook account and the fixed-rate mortgage. Mortgage lending in this new financial environment is increasingly the province of a shrinking group of large financial firms. These firms compete for funds in domestic and international markets as well as issue and sell the new adjustable-rate mortgages.Richard L. Florida notes that it is not surprising that the reorganization of the housing finance system has become the focus of a policy debate and a growing academic literature. A host of questions have been raised by policymakers. What are the driving forces behind the financial deregulation? How does deregulation affect housing finance? What are the new institutions and instruments being used to allocate housing credit and how do they work? How does the new housing finance system influence the cost and affordability of shelter? What is the future of housing finance? These are the core questions addressed in this book.Housing and the New Financial Marketsis divided into seven sections. The first examines the basic institutions and operations of the New Deal system. A second section turns to early deregulation efforts - including the Commission on Money and Credit, the Friend Study, the Hunt Commission, and the FINE Study. Florida then presents a detailed examination of the new financial regulation, focusing on the Depository Institutions Deregulation and Monetary Control Act and the Garn-St. Germain Act. He examines the reorganization of the thrift industry in the wake of these developments and analyzes the rise of the secondary mortgage market. He concludes by providing a number of tentative visions on the future of housing finance.
Author :United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises Publisher : ISBN 13 :9780160878213 Total Pages :81 pages Book Rating :4.8/5 (782 download)
Book Synopsis The Future of Housing Finance by : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Download or read book The Future of Housing Finance written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2011-01-01 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Moving Forward by : Nicolas P. Retsinas
Download or read book Moving Forward written by Nicolas P. Retsinas and published by Brookings Institution Press. This book was released on 2011-01-01 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Brookings Institution Press and Harvard University Joint Center for Housing Studies publication The recent collapse of the mortgage market revealed fractures in the credit market that have deep roots in the system's structure, conduct, and regulation. The time has come for a clear-eyed assessment of what happened and how the system should be strengthened and restructured. Such reform will have a profound and lasting impact on the capacity of Americans to use credit to build assets and finance consumption. Moving Forward explores what caused the crisis and, more important, focuses on the path ahead. The challenge remains the same as ever: protect consumers, ensure fairness, and guarantee soundness of the financial system without stifling innovation and overly restricting access to credit and consumer choice. Nicolas Retsinas, Eric Belsky, and their colleagues aim to stimulate debate based on analysis of the opportunities and challenges presented by the various components of global capital markets: financial engineering, risk assessment and management, specialization of financial intermediation, and marketing methods. The contributors—leaders in business, government, academia, and the nonprofit sector—discuss new research and ideas about the future of credit markets, including how improvements might be shaped by industry leaders. Contributors: John Y. Campbell, Harvard University; Marsha J. Courchane, Charles River Associates; Ren Essene, Federal Reserve Board; Allen Fishbein, Federal Reserve Board; Howell E. Jackson, Harvard Law School; Melissa Koide, Center for Financial Services Innovation; Michael Lea, San Diego State University; Eugene Ludwig, Promontory Financial Group; Brigitte C. Madrian, Harvard Kennedy School; Nela Richardson, Joint Center for Housing Studies of Harvard University; Rachel Schneider, Center for Financial Services Innovation; Peter Tufano, Harvard Business School; Peter M. Zorn, Freddie Mac
Book Synopsis Housing and the Financial Crisis by : Edward L. Glaeser
Download or read book Housing and the Financial Crisis written by Edward L. Glaeser and published by University of Chicago Press. This book was released on 2013-08-19 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conventional wisdom held that housing prices couldn’t fall. But the spectacular boom and bust of the housing market during the first decade of the twenty-first century and millions of foreclosed homeowners have made it clear that housing is no different from any other asset in its ability to climb and crash. Housing and the Financial Crisis looks at what happened to prices and construction both during and after the housing boom in different parts of the American housing market, accounting for why certain areas experienced less volatility than others. It then examines the causes of the boom and bust, including the availability of credit, the perceived risk reduction due to the securitization of mortgages, and the increase in lending from foreign sources. Finally, it examines a range of policies that might address some of the sources of recent instability.
Author :United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Publisher : ISBN 13 : Total Pages :120 pages Book Rating :4.:/5 (327 download)
Book Synopsis The Future of the Mortgage Market and the Housing Enterprises by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Download or read book The Future of the Mortgage Market and the Housing Enterprises written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2010 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Federal Home Loan Bank Board. Office of Economic Research Publisher : ISBN 13 : Total Pages :88 pages Book Rating :4.:/5 (31 download)
Book Synopsis A Financial Institution for the Future by : United States. Federal Home Loan Bank Board. Office of Economic Research
Download or read book A Financial Institution for the Future written by United States. Federal Home Loan Bank Board. Office of Economic Research and published by . This book was released on 1975 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Blackwell Companion to the Economics of Housing by : Susan J. Smith
Download or read book The Blackwell Companion to the Economics of Housing written by Susan J. Smith and published by John Wiley & Sons. This book was released on 2010-01-22 with total page 648 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Blackwell Companion to the Economics of Housing willhelp students and professionals alike to explore key elements ofthe housing economy: home prices, housing wealth, mortgage debt,and financial risk. Features 24 original essays, including an editorialintroduction and three section overviews Includes 39 world-class authors from a mix of educational andfinancial organizations in the UK, Europe, Australia, and NorthAmerica Broadly-based, scholarly, and accessible, serving students andprofessionals who wish to understand how today’s housingeconomy works Profiles the role and relevance of housing wealth; themismanagement of mortgage debt; and the pitfalls and potential ofhedging housing risk Key topics include: the housing price bubble and crash; thesubprime mortgage crisis in the US and its aftermath; the linksbetween housing wealth, the macroeconomy, and the welfare ofhome-occupiers; the mitigation of credit and housing investmentrisks Specific case studies help to illustrate concepts, along withnew data sets and analyses to illustrate empirical points
Book Synopsis The Great American Housing Bubble by : Adam J. Levitin
Download or read book The Great American Housing Bubble written by Adam J. Levitin and published by Harvard University Press. This book was released on 2020-06-09 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive account of the housing bubble that caused the Great Recession—and earned Wall Street fantastic profits. The American housing bubble of the 2000s caused the worst global financial crisis since the Great Depression. In this definitive account, Adam Levitin and Susan Wachter pinpoint its source: the shift in mortgage financing from securitization by Fannie Mae and Freddie Mac to “private-label securitization” by Wall Street banks. This change set off a race to the bottom in mortgage underwriting standards, as banks competed in laxity to gain market share. The Great American Housing Bubble tells the story of the transformation of mortgage lending from a dysfunctional, local affair, featuring short-term, interest-only “bullet” loans, to a robust, national market based around the thirty-year fixed-rate mortgage, a uniquely American innovation that served as the foundation for the middle class. Levitin and Wachter show how Fannie and Freddie’s market power kept risk in check until 2003, when mortgage financing shifted sharply to private-label securitization, as lenders looked for a way to sustain lending volume following an unprecedented refinancing wave. Private-label securitization brought a return of bullet loans, which had lower initial payments—enabling borrowers to borrow more—but much greater back-loaded risks. These loans produced a vast oversupply of underpriced mortgage finance that drove up home prices unsustainably. When the bubble burst, it set off a destructive downward spiral of home prices and foreclosures. Levitin and Wachter propose a rebuild of the housing finance system that ensures the widespread availability of the thirty-year fixed-rate mortgage, while preventing underwriting competition and shifting risk away from the public to private investors.
