Published February 2003
| public
Journal Article
Benefits to Homeowners from Mortgage Portfolios Retained by Fannie Mae and Freddie Mac
- Creators
- Roll, Richard
Abstract
Mortgage investing is the domain of financial intermediaries, such as Fannie Mae and Freddie Mac, who possess specialized knowledge and experienced analytic teams. Capital is channeled to homeowner/borrowers at lower cost through such entities. As the demand for mortgage borrowing outstrips aggregate domestic saving (which is currently negative) foreign sources of capital should become even more significant. Foreign capital can be channeled efficiently into the U.S. mortgage market by Fannie and Freddie. Their debt has the highest credit standing and their risk management ability has been demonstrated by their enormous "retained portfolios" of mortgages.
Additional Information
© 2003 Kluwer Academic Publishers. The author is grateful for constructive comments from Marsha Courchane, Edward Golding, Paul Kupiec, David Nickerson, Stephen Ross, and Robert Van Order, none of whom was willing to accept responsibility for the remaining errors.Additional details
- Eprint ID
- 95133
- DOI
- 10.1023/A:1022156110484
- Resolver ID
- CaltechAUTHORS:20190501-105036203
- Created
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2019-05-01Created from EPrint's datestamp field
- Updated
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2021-11-16Created from EPrint's last_modified field