Selected Legislative Proposals to Reform the Housing Finance System PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Selected Legislative Proposals to Reform the Housing Finance System PDF full book. Access full book title Selected Legislative Proposals to Reform the Housing Finance System by Sean M. Hoskins. Download full books in PDF and EPUB format.
Author: Sean M. Hoskins Publisher: ISBN: Category : Languages : en Pages :
Book Description
This report briefly explains the different approaches to housing finance reform proposed by the three bills, focusing on efforts to replace Fannie Mae and Freddie Mac and reform FHA.
Author: Sean M. Hoskins Publisher: ISBN: Category : Languages : en Pages :
Book Description
This report briefly explains the different approaches to housing finance reform proposed by the three bills, focusing on efforts to replace Fannie Mae and Freddie Mac and reform FHA.
Author: United States. Congress Publisher: Createspace Independent Publishing Platform ISBN: 9781977635570 Category : Languages : en Pages : 312
Book Description
A legislative proposal to protect American taxpayers and homeowners by creating a sustainable housing finance system : hearing before the Committee on Financial Services, U.S. House of Representatives, One Hundred Thirteenth Congress, first session, July 18, 2013.
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Publisher: ISBN: Category : Business & Economics Languages : en Pages : 208
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Publisher: ISBN: Category : Federal aid to housing Languages : en Pages : 90
Author: United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Capital Markets, Securities, and Government Sponsored Enterprises Publisher: ISBN: Category : Business & Economics Languages : en Pages : 622
Author: Congressional Research Service Publisher: CreateSpace ISBN: 9781507868355 Category : Business & Economics Languages : en Pages : 26
Book Description
The Federal Housing Administration (FHA), an agency of the Department of Housing and Urban Development (HUD), insures private mortgage lenders against losses on eligible mortgages. If a borrower defaults on an FHA-insured mortgage, FHA will repay the lender the remaining amount owed. FHA insurance is intended to encourage lenders to offer mortgages to households who might otherwise have difficulty obtaining a loan at an affordable interest rate, such as households with small down payments. Borrowers pay fees, called premiums, in exchange for the insurance, and these fees are supposed to pay for the costs of any mortgage defaults. In recent years, increasing foreclosure rates and falling house prices have strained FHA's single-family mortgage insurance fund, the Mutual Mortgage Insurance Fund (MMI Fund). At the end of FY2013, FHA received $1.7 billion from Treasury to ensure that it had sufficient funds to cover all of its expected future losses on the mortgages that it was currently insuring. This was the first time that FHA had ever required funds from Treasury for this purpose for its single-family program. In response to concerns about the financial condition of the MMI Fund, FHA has taken a number of steps in recent years to attempt to improve its financial position. These changes have included increasing the fees that it charges to borrowers, adjusting its underwriting standards, and making changes to the way that it manages delinquent mortgages and foreclosed properties. FHA has also requested additional authorities from Congress, such as improving its ability to hold FHA-approved lenders accountable for the mortgages they submit for FHA insurance. These authorities have been included in legislation that Congress has considered but have not been enacted to date. Congress has also been considering additional reforms to FHA. Proposed reforms include increasing the amount of capital that FHA is required to hold in reserve to pay for unexpected increases in future losses and specifying actions that FHA must take if its capital reserves fall below certain thresholds. Some of these proposed additional reforms have been included in several stand-alone bills that have been introduced in recent Congresses, including H.R. 1145 and S. 1376 in the 113th Congress. Additionally, reforms to FHA are being considered in the context of broader reforms to the housing finance system. One housing finance reform bill in the 113th Congress, the Protecting American Taxpayers and Homeowners (PATH) Act (H.R. 2767), would have made more far-reaching changes to FHA than those that have been included in other bills. These changes would have included limiting FHA-insured mortgages to only low- and moderate-income borrowers and first-time homebuyers in most circumstances, reducing the share of a mortgage that FHA can insure, and requiring greater risk-sharing with the private sector. The PATH Act would also have removed FHA from HUD and made it an independent agency.
Author: United States. Congress. House. Committee on Financial Services Publisher: ISBN: Category : Government-sponsored enterprises Languages : en Pages : 307
Author: U.s. Government Accountability Office Publisher: Createspace Independent Publishing Platform ISBN: 9781973957034 Category : Languages : en Pages : 132
Book Description
"Housing finance played a major role inthe 2007-2009 financial crisis, and thehousing sector continues to showconsiderable strains. The federalgovernment's role in the single-familyhousing finance system has alsogrown substantially. As a result,policymakers and others have madeproposals to change the system. Tohelp policymakers assess variousproposals and consider ways to makeit more effective and efficient, thisreport (1) describes marketdevelopments since 2000 that have ledto changes in the federal government'srole in the single-family housingfinance system; (2) analyzes whetherand how these market developmentshave challenged the housing financesystem; and (3) presents an evaluationframework for assessing potentialchanges to the system.GAO reviewed literature on housingfinance and housing marketdevelopments as well as prior GAOreports presenting frameworks forreform in the financial sector andcriteria for improving governmentperformance. GAO also met withofficials from a number of federalagencies. Based on the literaturereview and interviews, GAO developeda draft framework that it shared withseven discussion groups composed ofgovernment officials, experts fromacademia and research organizations,and interested parties such asconsumer advocates and industry"
Author: Sean M. Hoskins
Author: United States. Congress
Author: United States. Congress. House. Committee on Financial Services
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Author: United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Capital Markets, Securities, and Government Sponsored Enterprises
Author: Patric H. Hendershott
Author: Congressional Research Service
Author: United States. Congress. House. Committee on Financial Services
Author: U.s. Government Accountability Office
Author: Sean M. Hoskins