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United States: Selected Issues
Author:
International Monetary Fund. Western Hemisphere Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2015: Issue 169
Language:
English
Publication Date:
07 Jul 2015
DOI:
https://doi.org/10.5089/9781513514307.002
ISBN:
9781513514307
ISSN:
1934-7685
Pages:
16
Keywords:
ISCR; CR; mortgage; GSE; finance; mortgage market; prepayment risk; eligibility requirements; securitization platform; GSE dominance; interest rate; credit risk; GSE liability; power Fannie Mae; fixed-rate mortgage; private sector; risk retention rule; loan originator compensation requirement; Mortgages; Loans; Housing; Securitization; Insurance companies; Global
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This Selected Issues paper analyzes the current state of housing finance in the United States. Although a number of important steps have been taken to address the structural weaknesses exposed by the crisis in mortgage markets, comprehensive housing finance reform remains the largest piece of unfinished business. Mortgage markets, even eight years after the start of the crisis, continue to function with extensive government support. Reform of the government-sponsored enterprises, which remain in conservatorship, has stalled—generating uncertainty and complicating other policy initiatives. However, there has been progress in building other components for a well-functioning housing finance system.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund