Remove 2005 Remove Accountability Remove Government Agency
article thumbnail

The GSE Public-Private Hybrid Model Flunks Again: This Time It’s the Federal Home Loan Bank System (Part 1)

The Stoop (NYU Furman Center)

This included employing ex-government officials from both parties to aid their cause. As an example of their lobbying power, in 2004 and 2005 the George W. 25] He resigned in 2004 due to accounting irregularities. [26] It well reflects how much F&F are a hybrid of the two.

article thumbnail

Closing Cost Reform: Long Overdue and Worth the Fight (Part 1)

The Stoop (NYU Furman Center)

5 This is because the government has put considerable time and resources into developing lower downpayment alternatives that are still of acceptable credit quality to the government agencies that provide most mortgage credit today. percent) are being offered via the government mortgage agencies (e.g.,

Housing 59
article thumbnail

Government Mortgage Interest Rates: A Serious Discussion about the Intertwined Topics of Risk Adjustment and Cross-subsidies

The Stoop (NYU Furman Center)

This was described on the one hand as unfair, since it relied on overcharging low-risk borrowers “who had played by all the rules” and, on the other hand, as unduly incenting bad loans at the GSEs (by charging too little for high-risk loans) in a quasi-replay of the lead up to the mortgage bubble of 2005 to 2008.