Arbeitspapier

A private lender cooperative model for residential mortgage finance

We describe a set of six design principles for the reorganization of the U.S. housing finance system and apply them to one model for replacing Fannie Mae and Freddie Mac that has so far received frequent mention but little sustained analysis - the lender cooperative utility. We discuss the pros and cons of such a model and propose a method for organizing participation in a mutual loss pool and an explicit, priced government insurance mechanism. We also discuss how these principles and this model are consistent with preserving the 'to-be-announced,' or TBA, market - particularly if the fixed-rate mortgage remains a focus of public policy.

Sprache
Englisch

Erschienen in
Series: Staff Report ; No. 466

Klassifikation
Wirtschaft
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Institutions and the Macroeconomy
Financial Institutions and Services: Government Policy and Regulation
Financial Crises
Thema
GSE
MBS
mortgage

Ereignis
Geistige Schöpfung
(wer)
Dechario, Toni
Mosser, Patricia
Tracy, Joseph
Vickery, James
Wright, Joshua
Ereignis
Veröffentlichung
(wer)
Federal Reserve Bank of New York
(wo)
New York, NY
(wann)
2010

Handle
Letzte Aktualisierung
10.03.2025, 11:45 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Dechario, Toni
  • Mosser, Patricia
  • Tracy, Joseph
  • Vickery, James
  • Wright, Joshua
  • Federal Reserve Bank of New York

Entstanden

  • 2010

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