mortgage foreclosure

We are now facing historic levels of homes lost through foreclosures. Not every individual foreclosure can or should be stopped, but there is an urgent need to stop the epidemic by closing the growing chasm between prevention and losses. Without stronger policy intervention, not only will millions of families lose their homes unnecessarily, but massive foreclosures will continue to destroy communities, drag down the housing market, and keep a full economic recovery out of reach.

Testimony on the current status of the housing governmentsponsored enterprises (GSEs) as reported in the Federal Housing Finance Agency’s (FHFA’s) first Annual Report to Congress. A perspective on the future of those entities and federal involvement in the housing finance system. With $11.9 trillion in outstanding mortgage debt, housing finance, in which GSE's are the major players, is of prime importance to the U.S economy.