What Role Will the Government Play in a Reformed Housing Market?

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Posted To: MND NewsWire

Edward J. DeMarco , Acting Director of the Federal Housing Finance Agency, told members of SIFMA this afternoon that "The secondary mortgage market infrastructure that served this country for many years is broken." It is not effective when it comes to adapting to market changes, issuing securities that attract private capital, aggregating data, or lowering barriers to market entry he said. There must be some updating and continued maintenance of the government sponsored enterprises securitization infrastructure, "and to the extent possible, we should invest taxpayers' dollars to this end once, not twice." He told SIFMA members that, as those who invest in the secondary market, they are uniquely positioned to contribute to policy discussions about the future of the housing finance system . There...(read more)

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Source: www.mortgagenewsdaily.com

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