Signing onto the letter were key figures in prior legislative attempts to propose comprehensive changes to the housing finance system
. They included Senators Bob Corker (R-Tennessee), Mark Warner (D-Virginia) and Mike Crapo (R-Idaho).
(2013), 'A better housing finance system
', National Institute Economic Review, 223, February, http://ner.sagepub.com/ content/223/1/F4.full.pdf+html.
Warnock and Warnock (2008) shows that Malaysia has the preeminent housing finance system
in the emerging Asia countries.
Tim Johnson, D-S.D., and Mike Crapo, R-Idaho, aims to overhaul the housing finance system
by eliminating Fannie Mae and Freddie Mac and establishing a new, untested regulatory body that could disrupt the valuable system of home finance and make mortgage rates more expensive.
Reporter Angela Caputo and photojournalism fellow Michelle Kanaar spent weeks in this Southwest Side neighborhood, which by 2007 "had become ground zero in the foreclosure crisis." The two-flat went from an owner-occupied residence in the 1920S to an investor-owned property by the 2000S to a hollowed-out abandoned wreck by 2010, mirroring the decline of the neighborhood and the unraveling of the housing finance system
According to him, the only option to put an end to the entitiesa[euro](tm) failed business model is to establish a new housing finance system
in which private capital would have a central role.
"The President also discussed the housing market including the need for a more simplified and certain housing finance system
that better serves middle class families," the White House said.
The statement said that Obama also discussed the need for a simplified and certain housing finance system
that would better serve middle class families.
Hensarling, in a statement, said his plan ''puts private capital at the center of the housing finance system
, ends the bailout of Fannie Mae and Freddie Mac and sustains the 30-year fixed rate mortgage -- all goals the president says he supports.''
25 primarily focused on reducing the government's role in the nation's housing finance system
, but it also proposed changes to current appraisal policy, specifically the use of distressed properties as comparables.
"We have a responsibility to return value to taxpayers and to contribute our expertise and experience to building a more effective and stable housing finance system
for the future," said Mayapoulos in a statement.
That bill would completely privatize the housing finance system
over the next five years.