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
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Objekttyp
- Arbeitspapier
Beteiligte
- Dechario, Toni
- Mosser, Patricia
- Tracy, Joseph
- Vickery, James
- Wright, Joshua
- Federal Reserve Bank of New York
Entstanden
- 2010