The American Enterprise Institute has come forward with its proposal for reforming the housing finance system which advocates taking the government totally out of the picture and implementing a system reliant on credit quality to attract investors. In a White Paper titled Taking the Government Out of Housing Finance: Principles for Reforming the Housing Finance Market , authors Peter J. Wallison, Alex J. Pollock, and Edward J. Pinto fault the Dodd-Frank Act for ignoring government housing policies which "caused the recent financial crisis it was supposed to address." The report dismisses the assumption that institutional investors will not buy mortgage backed securities (MBS) unless they are issued by a government sponsored enterprise, government agency, or backed with a government guarantee...(read more)
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Source: http://www.mortgagenewsdaily.com/01242011_housing_finance_reform.asp
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