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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)

Introduction In November of last year, the Federal Housing Finance Agency (FHFA) published a report 1 (the Report) recommending reforms for the Federal Home Loan Bank (FHLB) System. 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.

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Revisiting the Community Land Trust: An Academic Literature Review

Community and Economic Development Program of UNC

Housing costs and supply are dominating the news at the moment. Housing is the highest monthly bill typical Americans face, reaching an average of $1674 a month in 2021. Housing prices have increased far faster than incomes (Miller 2015), making affordable homeownership inaccessible for many aspiring homeowners (Hackett et al.

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A History of Ohio Land Banking 2009–2021: From Legislation to Operation

Center for Community Progress

At the height of the foreclosure crisis post-2008, a group of elected officials, community development practitioners, and lawyers came together to craft a strategy to respond to the hemorrhaging real estate market in Ohio. In 2006, the Ohio General Assembly passed this legislation. Everything seemed to work as planned—until 2008.

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Read President/CEO Dr. Akilah Watkins’ US House of Representatives Ways & Means Committee Affordable Housing Testimony

Center for Community Progress

On July 13, Community Progress CEO and President Dr. Akilah Watkins spoke before the The US House of Representatives Ways & Means Committee in a hearing called “Nowhere to Live: Profits, Disinvestment, and The American Housing Crisis.” Thank you for the opportunity to testify today on America’s housing unaffordability crisis. .

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The GSE Public-Private Hybrid Model Flunks Again: This Time It’s the Federal Home Loan Bank System (Part 2)

The Stoop (NYU Furman Center)

Introduction The Federal Home Loan Bank (FHLB) System 1 is a relatively unknown but important part of America’s housing and financial system, with over $1 trillion in assets. It was established by Congress in 1932 and today consists of 11 regional FHLBanks that operate as one system, cross-guaranteeing each other’s debts.

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Celebrating 20 Years of Land Banks in Michigan

Center for Community Progress

One facet of the legislation stipulated that Michigan land banks must be created by intergovernmental collaboration between a county and the state land bank. In the 20 years since this legislation, Michigan has formed 48 county land banks, one city land bank (DLBA), and the state land bank, which serves the remaining 35 counties.

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Nonbank Mortgage Servicers: Proposing a Better Path to Reduce Their Risk to Financial Stability

The Stoop (NYU Furman Center)

First, the implementation timeline is rather long, as key recommendations are significantly dependent upon Congress passing legislation – and it must be assumed that such passage will require, at a minimum, at least several years. I find these recommendations lacking for four main reasons.