Administration Report Offers New Directions for the Federal Role in Housing Finance
February 22, 2011
The Obama Administration recently released its report to Congress on reforming the nation’s housing finance market. The report calls for an incremental wind-down of Fannie Mae and Freddie Mac, a scaled-back role for the U.S. government in the housing finance system and the creation of a finance market in which the private sector plays the dominant role in providing mortgage credit. This update examines the report, which signals a move away from the notion that homeownership for all Americans should be a key government objective.
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