September 25, 2014

How Much Did the FHA Cost Us?

By David Reiss

Until the financial crisis hit, the Federal Housing Administration has never required budgetary support for its mortgage insurance programs. When it received a $1.7 billion infusion from the Treasury, it was seen as a sad day in the FHA’s long … Continue reading

August 18, 2014

Housing Finance at A Glance

By David Reiss

The Urban Institute’s Housing Finance Policy Center really does give a a nice overview of the American housing finance system in its monthly chartbook, Housing Finance at A Glance. I list below a few of the charts that I found … Continue reading

August 15, 2014

The Cost of Doing Nothing

By David Reiss

Yesterday, I wrote about the Securities Industry and Financial Markets Association (SIFMA)’s FHFA comment letter. Today I write about SIFMA’s comment letter in response to Treasury’s request for input relating to the future of the private-label securities market. Like the … Continue reading

August 14, 2014

Housing Finance Abhors A Vacuum

By David Reiss

The Securities Industry and Financial Markets Association (SIFMA) released their comment letter to the Federal Housing Finance Agency’s request for input relating to the role of the Fannie and Freddie guarantee fee (g-fee) in the housing finance market. While clearly … Continue reading

August 11, 2014

Reiss on The Future of the Private Label Securities Market

By David Reiss

I have posted The Future of the Private Label Securities Market to SSRN (as well as to BePress). I wrote this in response to the Department of Treasury’s request for input on this topic. The abstract reads, The PLS market, … Continue reading

August 8, 2014

Conservative Underwriting or Regulatory Uncertainty?

By David Reiss

Jordan Rappaport (Federal Reserve Bank of Kansas City) and Paul Willen (Federal Reserve Bank of Boston) have posted a Current Policy Perspectives,Tight Credit Conditions Continue to Constrain The Housing Recovery. They write, Rather than cutting off access to mortgage credit … Continue reading

July 17, 2014

Armed, Unarmed or Harmed by Knowledge?

By David Reiss

I posted Armed, Unarmed or Harmed by Knowledge? A Comment on the FHA’s Housing Counseling Pilot Program to SSRN (and to BePress). The abstract reads, The FHA has requested input on its Homeowners Armed with Knowledge (HAWK) for New Homebuyers … Continue reading