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dc.contributor.authorFrame, W. Scott-
dc.contributor.authorWall, Larry D.-
dc.contributor.authorWhite, Lawrence J.-
dc.date.accessioned2012-08-15T14:52:04Z-
dc.date.available2012-08-15T14:52:04Z-
dc.date.issued2012-08-15T14:52:04Z-
dc.identifier.urihttp://hdl.handle.net/2451/31589-
dc.description.abstractThis paper seeks to contribute to the U.S. housing finance reform conversation by providing a critical assessment of the various types of policy proposals that have been offered. There appears to be a broad consensus to maintain explicit government guarantees for certain narrowly defined borrower populations, such as FHA insurance guarantees for low- and moderate-income and first-time homebuyers. However, the expected role of the federal government in the broader housing finance system is in dispute: ranging from no role; to insuring against only extreme or tail events; to insuring against all losses. However, most proposals agree that any public insurance be priced and available only for loans meeting pre-specified criteria in an effort to limit taxpayer exposure.en
dc.language.isoen_USen
dc.rightsCopyright W. Scott Frame, Larry D. Wall, and Lawrence J. White, 2012.en
dc.subjectresidential mortgages, securitizationen
dc.subjectgovernment-sponsored enterprises, housing subsidies.en
dc.titleThe Devil's in the Tail: Residential Mortgage Finance and the U.S. Treasuryen
dc.typeWorking Paperen
dc.authorid-ssrn15117en
Appears in Collections:Economics Working Papers

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