Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/70633
Authors: 
Frame, W. Scott
Wall, Larry D.
White, Lawrence J.
Year of Publication: 
2012
Series/Report no.: 
Working Paper, Federal Reserve Bank of Atlanta 2012-12
Abstract: 
This paper seeks to contribute to the U.S. housing finance reform conversation by providing a critical assessment of the various types of policy proposals that have been offered. There appears to be a broad consensus to maintain explicit government guarantees for certain narrowly defined borrower populations, such as Federal Housing Administration insurance guarantees for low- and moderate-income and first-time homebuyers. However, the expected role of the federal government in the broader housing finance system is in dispute. The expected role ranges from no role to insuring against only extreme or tail events to insuring against all losses. However, most proposals agree that any public insurance be priced and available only for loans meeting specified criteria to limit taxpayer exposure.
Subjects: 
residential mortgages
securitization
government-sponsored enterprises
housing subsidies
JEL: 
G18
G28
Document Type: 
Working Paper

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