Fannie Mae, Freddie Mac, and Housing:Good Intentions Gone Awry

30 Pages Posted: 11 Nov 2008

See all articles by Lawrence J. White

Lawrence J. White

New York University (NYU) - Leonard N. Stern School of Business, Department of Economics

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Date Written: July 2006

Abstract

he Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) are the two dominant entities in the secondary market for residential mortgages in the United States. This chapter describes and discusses these two companies and their special status in the U.S. residential mortgage market and recommends their true privatization, as well as a set of additional reform measures that would improve the efficiency of housing construction and consumption in the U.S. economy. Along the way, we will address a number of major issues that concern housing and its special place in the political landscape of America.

Keywords: Fannie Mae, Freddie Mac, government-sponsored enterprises, housing, residential mortgages, securitization, regulation

Suggested Citation

White, Lawrence J., Fannie Mae, Freddie Mac, and Housing:Good Intentions Gone Awry (July 2006). NYU Working Paper No. S-FI-06-01. Available at SSRN: https://ssrn.com/abstract=1297729

Lawrence J. White (Contact Author)

New York University (NYU) - Leonard N. Stern School of Business, Department of Economics ( email )

44 West 4th Street
Suite 9-160
New York, NY NY 10012
United States

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