Quantifying the Tightness of Mortgage Credit and Assessing Policy Actions

Working Paper

Quantifying the Tightness of Mortgage Credit and Assessing Policy Actions

March 9, 2017

Abstract

In this paper, Dr. Goodman explains how she has determined that access to mortgages is extraordinarily tight and then evaluates the policy actions taken to date by regulators to ease mortgage access. She concludes that the actions taken by the government-sponsored enterprises have been much more successful than those taken by the Federal Housing Administration (FHA). Dr. Goodman explains that if we don’t expand access to FHA loans, we will have a much lower percentage of homeowners in the future and, ultimately, greater economic inequality.

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