You said:
"It seems that there will be considerable resistance to the idea of the government getting involved in purchasing mortgage loans and doing all that Fannie and Freddie do as a new government agency. It seems that would not get the talent necessary to pull that off equally well as the GSEs.
The lawmakers are at a loss when the whole of the working parts of the housing finance industry and system is considered. They do not even have a quarter of it clear in their heads. So, there is a ways to go before they develop something that will be thoughtfully productive and constructive rather than the carelessly made, disruptive and destructive proposals already made."
Thanks Obi, for that informative post. I agree with you.
The questions that come to mind:
Could this newly created CSS with its declared intention and function now... be the beginning of a larger entity to take all that FnF are now performing?
Is that feasible without causing disruption to the Housing and Morgage industries? Could FnF be declared dissolved by name and all placed under CSS management and leadership effectively without creating new problems?
Is it possible for the CSS to expand their operations to include all the range of expertise and qualified people to carry all the functions of FnF? If that is likely and feasible, could it not serve a convenient way of saving the face of both, Gov (for their lack/shortcomings of first devising the Laws and Regulations and lack of Supervision) for their share of responsibility in the debacle of 2008... That could also keep the Big Banks happy.
How feasible could that be... short of not becoming like 're-inventing the wheel'?:-)
Just curious in your thoughts, if you don't mind, of course. Thanks for your contributions and best regards to you.
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