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The purpose of this white book is to describe a proposed framework for both a new securitization platform and a model Pooling and Servicing Agreement as set forth in the February 2012 Strategic Plan for Enterprise Conservatorships (Strategic Plan) published by the Federal Housing Finance Agency (FHFA). The Strategic Plan envisions the building and use of a new infrastructure by Fannie Mae and Freddie Mac (the Enterprises) as an efficient, logical extension of existing FHFA initiatives aligning the standards and practices of the Enterprises. It also envisions that this effort could have broader application to the future housing finance market. The proposed infrastructure has two complementary goals: (1) replace the outmoded proprietary infrastructures of the Enterprises with a common, more efficient model; and (2) establish a framework that is consistent with multiple states of housing finance reform, including greater participation of private capital in assuming credit risk. Success in achieving these goals will provide a sound, efficient and flexible operating environment in the shorter term, and help provide policy makers with the means to design a mortgage finance system unfettered by legacy processes and systems and capable of working well with or without various degrees of government involvement.
In September 2008, the fed. gov¿t. assumed control of Fannie Mae and Freddie Mac (FM/FM), two federally chartered institutions that last year guaranteed three-quarters of new residential mortgages originated in the U.S. This study examines various alternatives for the fed. gov¿t¿s. future role in the secondary (resale) market for residential mortgages. Contents: Overview of FM/FM, and the Secondary Mortgage Market; Possible Rationales for a Fed. Role in the Secondary Mortgage Market; Weaknesses of the Pre-crisis Model for FM/FM; Alternative Approaches for the Future of the Secondary Mortgage Market; History of the Secondary Mortgage Market; The Fed. Home Loan Banks. Charts and tables. A print on demand report.
This interdisciplinary volume illuminates housing's impact on both wealth and community, and examines legal and policy responses to current challenges. Also available as Open Access.
The Federal Regulatory Directory, Eighteenth Edition continues to offer a clear path through the maze of complex federal agencies and regulations, providing to-the-point analysis of regulations. Information-packed profiles of more than 100 federal agencies and departments detail the history, structure, purpose, actions, and key contacts for every regulatory agency in the U.S. government. Now updated with an improved searching structure, the Federal Regulatory Directory continues to be the leading reference for understanding federal regulations, providing a richer, more targeted exploration than is possible by cobbling together electronic and print sources.