On February 11, 2011, the Obama Administration delivered a report to Congress “Reforming America’s Housing Finance Market,” in which it submits three alternatives for housing reform with the goal of reducing the government’s role in housing and promoting the return of private capital to a healthier mortgage market. The report outlines continued reforms to repair the fundamental flaws in the mortgage market through stronger consumer protection, increased transparency for investors, improved underwriting standards and other critical measures. At the same time, the Administration also seeks to better target the government’s support for affordable homeownership and rental housing. This report marks the beginning of the political process in which the Obama Administration and Congress must agree on the structure and timing of mortgage reform.
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