At the beginning of the financial crisis, your humble blogger proposed creating this mortgage database (it is a subset of the Mother of all Financial databases).
[Full disclosure: your humble blogger has a patent that would cover the database being talked about by FHFA.]
FHFA identifies three strategic goals for the next phase of the conservatorships:
Build. Build a new infrastructure for the secondary mortgage market; Contract. Gradually contract the Enterprises’ dominant presence in the marketplace while simplifying and shrinking their operations; and Maintain. Maintain foreclosure prevention activities and credit availability for new and refinanced mortgages.“With the conservatorships operating for more than three years and no near-term resolution in
sight, it is time to update and extend the goals and directions of the conservatorships,”
“FHFA is contemplating next steps to build an infrastructure for the secondary mortgage market that is consistent with existing policy proposals and will support any outcome of the leading legislative proposals. FHFA looks forward to working with Congress and the Administration on a resolution of the conservatorships and a comprehensive review of the nation’s housing finance system,” said DeMarco.