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

• Superior document: Title is part of eBook package: De Gruyter University of Pennsylvania Press Complete eBook-Package 2016
• MitwirkendeR: Frame, W. Scott,; Grant, Meghan,; Griffith, John,; Hancock, Diana,; Heller, Stephanie,; Kanojia, Akash,; Mosser, Patricia C.,; Park, Kevin A.,; Passmore, Wayne,; Quercia, Roberto G.,; Scharfstein, David,; Swagel, Phillip,; Tracy, Joseph,; Wachter, Susan M.,; Whitman, Dale A.,; Willis, Mark A.,; Wright, Joshua,
• HerausgeberIn: Tracy, Joseph,; Wachter, Susan M.,
• Place / Publishing House: Philadelphia : : University of Pennsylvania Press, , [2016]; ©2016
• Year of Publication: 2016
• Language: English
• Series: The City in the Twenty-First Century
• Physical Description: 1 online resource (288 p.) :; 23 illus.

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.

Table of Contents

Frontmatter -- CONTENTS -- Introduction -- PART I. STRUCTURAL REFORM OPTIONS -- Chapter 1. Legislative Approaches to Housing Finance Reform -- Chapter 2. The Capital and Governance of a Mortgage Securitization Utility -- Chapter 3. Macroprudential Mortgage- Backed Securitization: Can It Work? -- PART II. HOUSING FINANCE: BEYOND THE BASICS -- Chapter 4. Reforms for a System Th at Works: Multifamily Housing Finance -- Chapter 5. The Once and Future Federal Housing Administration -- Chapter 6. The Federal Home Loan Bank System and U.S. Housing Finance -- PART III. HOUSING FINANCE INFRASTRUCTURE -- Chapter 7. The TBA Market: Effects and Prerequisites -- Chapter 8. The Significance and Design of a National Mortgage Note Registry -- Chapter 9. Informed Securitization -- Notes -- References -- List of Contributors -- Index