If there is one feature of a reformed housing finance system that has broad buy-in, it is that private capital should take the majority of mortgage credit risk.
In anticipation of the next debate on housing finance reform, stakeholders must agree on ways to measure how well the existing system is making credit available.
Reform of the GSEs and housing finance may come, but it’s more likely to come in small bites rather than the big prix fixe Johnson-Crapo or the PATH Act.
Achieving housing finance reform received a major boost when Senate Banking Committee Chairman Tim Johnson (D-SD) and ranking member Mike Crapo (R-ID) recently unveiled their long-awaited reform proposal.
Leaders of BPC Housing Commission Encourage Senators Johnson and Crapo to Move Forward on Housing Finance Legislation
Appearing at a BPC forum, Senator Crapo reinforced his commitment to move forward on legislation in early 2014.