Joshua Rosner, managing director at Graham Fisher, a consulting firm, suggested that calls for an explicit government guarantee for GSE MBS are absurd.
“For MBA, the most critical issue to address before releasing the GSEs is the establishment of an explicit federal backstop for mortgage-backed securities,” according to Bob Broeksmit, president and CEO of the Mortgage Bankers Association.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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