Nationalizing Mortgage Risk
The Growth of Fannie Mae and Freddie Mac

  • Title:

    Nationalizing Mortgage Risk
  • Format:

    Paperback
  • Paperback Price:

    9.95
  • Paperback ISBN:

    0-8447-7146-5
  • Paperback Dimensions:

    5.5'' x 8.25''
  • 53 Paperback pages
  • Buy the Book

Click here to view the full book as an Adobe PDF.

Fannie Mae and Freddie Mac are government-sponsored enterprises that have aggressively used their government support to achieve extraordinarily high profitability and domination of the residential mortgage market. By the end of 1998, these two companies had assumed the risk of more than a quarter of all residential mortgages in the United States. According to the financial forecasts of their officials, they will hold almost half of all residential mortgage risk by the end of 2003.

In Nationalizing Mortgage Risk: The Growth of Fannie Mae and Freddie Mac, Peter J. Wallison and Bert Ely examine the implications of this uncontrolled growth--for the taxpayers, who ultimately stand behind these companies, and for the nonsubsidized lenders and other mortgage market participants, who must compete with them for residential mortgage assets. In the face of this de facto nationalization of the residential mortgage markets, Wallison and Ely point out several options for policymakers.

Peter J. Wallison is a resident fellow at the American Enterprise Institute, where he codirects the Program on Financial Market Deregulation.

Bert Ely, the principal at Ely & Company, Inc., is a consultant on monetary policy and financial institutions.

Also Visit
AEIdeas Blog The American Magazine
About the Author

 

Peter J.
Wallison

What's new on AEI

With Ukraine, Putin is courting the home crowd
image Ayn Rand vs. Paul Ryan
image Fighting for us: The real stakes in Israel’s war
image Obama failed to stop the Islamic State when he had the chance
AEI on Facebook
Events Calendar
  • 28
    MON
  • 29
    TUE
  • 30
    WED
  • 31
    THU
  • 01
    FRI
Tuesday, July 29, 2014 | 10:00 a.m. – 12:00 p.m.
Is Medicare's future secure? The 2014 Trustees Report

Please join AEI as the chief actuary for Medicare summarizes the report’s results, followed by a panel discussion of what those spending trends are likely to mean for seniors, taxpayers, the health industry, and federal policy.

Friday, August 01, 2014 | 10:30 a.m. – 12:00 p.m.
Watergate revisited: The reforms and the reality, 40 years later

Please join us as four of Washington’s most distinguished political observers will revisit the Watergate hearings and discuss reforms that followed.

No events scheduled this day.
No events scheduled this day.
No events scheduled today.
No events scheduled this day.
No events scheduled this day.
No events scheduled this day.