Since the 2008 housing crisis, there have been significant changes that prompted the Treasury to place Fannie Mae and Freddie Mac under conservatorship. While the conservatorship has allowed for the mortgage market to be restored to its pre-crisis state and strengthened these two government-sponsored entities (GSEs), there are significant downsides to maintaining the status quo indefinitely.

It’s now been 15 years since the Housing and Economic Recovery Act (HERA) was signed into law and the Federal Housing details ⇒