Nice Piece on the Lack of a Private Sector in Mortgage Finance

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Much of the story in the mortgage market in the last year has been the disappearance of privately issued, privately insured mortgages. The role of Fannie, Freddie, the FHA, and the VA has always been large, but they essentially are the mortgage market now. Floyd Norris has a nice piece on this in today's NYT.

--Dean Baker

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