Principles of Housing Finance Reform / Susan M. Wachter, Joseph Tracy.

Format:

Book

Contributor:

Tracy, Joseph, editor.

Wachter, Susan M., editor.

Series:

City in the twenty-first century book series.

The City in the Twenty-First Century

Language:

English

Subjects (All):

Housing--United States--Finance.

Housing.

Housing--Finance--Government policy--United States.

Physical Description:

1 online resource (289 pages).

Edition:

1st ed.

Place of Publication:

Philadelphia : University of Pennsylvania Press, [2016]

Language Note:

In English.

Summary:

In the fall of 2008, the world watched in horror as the U.S. housing finance system shattered, triggering a global financial panic and ultimately the Great Recession. Now, nearly a decade later, the long and slow housing recovery has reached a critical moment. Though the housing finance system has stabilized, it remains in the hands of the federal government, leaving taxpayers exposed to the credit risk while private funding remains mostly on the sidelines.Principles of Housing Finance Reform identifies the changes necessary to modernize the housing finance system, identifying guiding principles that should underlie a rebuilt system. Contributors to the volume set out a wealth of innovative solutions that are possible within this framework, presenting proposals for long-term structural reforms that would infuse new life into the U.S. housing finance system while enhancing long-term stability.Nearly a decade after the inception of the Great Recession, reform proposals have arisen across the political spectrum. This is a moment of opportunity for rebuilding a key sector of the U.S. economy. The research in this volume represents the best thinking of policy researchers and economic experts on the challenges that lie ahead and provides a roadmap for reforms to create a system characterized by liquidity, stability, access, and sustainability.Contributors: W. Scott Frame, Meghan Grant, John Griffith, Diana Hancock, Stephanie Heller, Akash Kanojia, Patricia C. Mosser, Kevin A. Park, Wayne Passmore, Roberto G. Quercia, David Scharfstein, Phillip Swagel, Joseph Tracy, Susan M. Wachter, Dale A. Whitman, Mark A. Willis, Joshua Wright.

Contents:

Frontmatter

CONTENTS

Introduction / Wachter, Susan M. / Tracy, Joseph

PART I. STRUCTURAL REFORM OPTIONS

Chapter 1. Legislative Approaches to Housing Finance Reform / Scharfstein, David / Swagel, Phillip

Chapter 2. The Capital and Governance of a Mortgage Securitization Utility / Mosser, Patricia C. / Tracy, Joseph / Wright, Joshua

Chapter 3. Macroprudential Mortgage- Backed Securitization: Can It Work? / Hancock, Diana / Passmore, Wayne

PART II. HOUSING FINANCE: BEYOND THE BASICS

Chapter 4. Reforms for a System Th at Works: Multifamily Housing Finance / Willis, Mark A. / Griffith, John

Chapter 5. The Once and Future Federal Housing Administration / Park, Kevin A. / Quercia, Roberto G.

Chapter 6. The Federal Home Loan Bank System and U.S. Housing Finance / Frame, W. Scott

PART III. HOUSING FINANCE INFRASTRUCTURE

Chapter 7. The TBA Market: Effects and Prerequisites / Kanojia, Akash / Grant, Meghan

Chapter 8. The Significance and Design of a National Mortgage Note Registry / Heller, Stephanie / Whitman, Dale A.

Chapter 9. Informed Securitization / Wachter, Susan M.

Notes

References

List of Contributors

Index

Notes:

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 25. Jul 2018)

ISBN:

9780812293739

0812293738

OCLC:

956749848