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- Working Paper
Mitchell Remy, Deborah Lucas, and Damien Moore
- Report
Testimony before the Committee on the Budget, U.S. House of Representatives
- Blog Post
Until recently the obligations of Fannie Mae and Freddie Mac—two federally chartered institutions (called government-sponsored enterprises, or GSEs) that provide credit guarantees for almost half of the outstanding mortgages in the United States—had no official backing from the federal government, nor were any costs associated with them reflected in the federal budget. However, starting in 2007, their losses mounted sharply as housing prices dropped and foreclosure rates climbed.
- Report
CBO has prepared the analysis of accounting for the Federal Housing Administration’s single-family mortgage insurance program on a fair-value basis.
- Blog Post
Over the past two years, the Federal Housing Administration (FHA) has guaranteed more than 17 percent of new and refinanced mortgages on single-family homes in the United States. The estimated lifetime costs of FHAs single-family mortgage insurance program are recorded in the federal budget using a methodology spelled out in the Federal Credit Reform Act of 1990 (FCRA). Using the FCRA methodology, CBO estimates that the program will produce budgetary savings of $4.4 billion in fiscal year 2012.
- Report
Testimony before the Committee on Finance, United States Senate
- Blog Post
This morning Joseph Kile, CBOs Assistant Director for Microeconomic Studies, testified before the Senate Finance Committee to discuss the federal role in paying for highways. The testimony draws on several recent CBO publications on highways and other infrastructure. Status of the Highway Trust Fund