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Second, it’s unreasonable to assume the design could work effectively through many decades of often unpredictable changes in markets, legislation, and regulation. 11 This core flaw of GSE design was described by then-Secretary of the Treasury Henry Paulson when F&F were placed into conservatorship in 2008.
This blocking has been enabled by extensive political advocacy and lobbying, especially aimed at elected members of Congress and state legislatures, and stands out for how effective it has been. Industry lobbying and advocacy are now also focused on the CFPB in response to its public announcement of an investigation. 15 Credit reports.
2 In November of last year, the Federal Housing Finance Agency (FHFA), the regulator and conservator of the two companies, issued its annual report on their G-fees (the G-fee Report), covering calendar year 2021. 3 In that report, the FHFA disclosed that the average G-fee across all products was 0.46
The Federal Housing Finance Agency (FHFA), the regulator and conservator of Freddie Mac and Fannie Mae, the two government-sponsored enterprises (GSEs), has been very prominently in the news lately. every borrower paying the same interest rate), its regulators would cite it for engaging in an unsafe and unsound practice.
Nevertheless, the advocacy I have found with respect to MH demonstrates some confusion regarding this fundamental. I found additional advocacy approaches designed to support a claim that MH structures will appreciate much like site-built structure-plus-land housing.
This simple advocacy narrative is even generalized, not restricting MH to the geographies where it currently has a high market share, i.e., lower population density areas where land is readily available and inexpensive. MH units 1 currently account for about 6% of the U.S. housing stock, including both owner- and renter-occupied housing.
Lots in these zones also benefit from slightly loosened density regulations and reduced parking requirements to encourage housing growth, especially in zones supported by mass transit. 2 (August 31, 2008). link] Dyer, Janice, Conner Bailey, and Nhuong Tran. ” Journal of Rural Social Sciences 24, no. link] Hincken, Garrett.
When the conservatorships were established in 2008, exiting them required approval from both the presidential administration, acting through Treasury, and the then-independent FHFA, led by a single director. Doing so allows for the design of exit terms to produce that model as a result.
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