Ed DeMarco considers the recent evolution of the home appraisal industry and its role in a future housing finance system that relies on private capital. He explores the issues facing the industry, including content, standards, and...

The collapse of the housing finance system played a pivotal role in the 2008 financial crisis and the Great Recession. Seven years later, fundamental problems with the system—especially the roles of Fannie Mae and Freddie Mac—remain...

This paper sets out proposed administrative actions to reform the housing finance system in the absence of legislation. The goal is to build upon the progress that has been made toward a safer and more effective housing finance system with...

A much-debated concept to support affordable housing is that of a duty to serve (DTS) policy, which would impose an obligation on the secondary mortgage market institutions of Fannie Mae and Freddie Mac or their successors to ensure that...

Among the many stumbling blocks to achieving bipartisan housing finance reform are deep-seated differences in lawmakers views on the role of government sponsored enterprises (GSEs), or their potential successors, in affordable housing. Lack...

Milken Institute and Urban Institute experts discuss a draft bill under discussion as of March 2018 in the Senate Banking Committee to reform the housing finance system. Given the breadth and the complexity of the bill, which would...

The housing finance reform debate has regained momentum, as those involved aim to move towards bipartisan housing finance system legislation in 2018. While different approaches have evolved from the discourse about potential reforms of the...

WASHINGTON, DC—The Milken Institute is mobilizing efforts for the next phase of housing finance reform as policymakers work through the complexities of building a sustainable system. Today, the Institute announced a new policy team with...

The challenges of achieving homeownership, particularly for lower- and moderate-income families, remain a perennial issue in housing policy. Yet our public policy discussions of these matters seem old and tired, especially in light of the...

The continuing policy debate over restructuring the plumbing of the secondary mortgage market may ultimately prove to be the easy part—at least politically—of housing finance reform. The past eight years of proposals and counterproposals...