| I don't have a link to hard data, but it's a widely reported fact. > An estimated 90% of all mortgage issuance is government-related (either Fan/Fred or Ginnie). The government now bears 50% of the credit risk of the entire mortgage market. For all intents and purposes, the U.S. mortgage market is more or less nationalized. (Source: http://marketrealist.com/2013/08/role-fannie-mae-freddie-mac...) > Currently, the government backs about 90 percent of newly issued mortgages, more than ever before. The proportion fell in the years leading up to 2007 as subprime loans proliferated and then soared after that market collapsed. Since then, the Federal Housing Administration has expanded its role in backing home loans on the low end of the scale. (Source: http://www.nytimes.com/2013/03/01/business/report-lays-out-p...) > After all, more than 90% of all loan activity is underwritten, insured, or owned by the government and its affiliated entities. (Source: http://www.forbes.com/sites/morganbrennan/2013/10/01/heres-h...) And from 2010: > Government-related entities backed 96.5% of all home loans during the first quarter, up from 90% in 2009, according to Inside Mortgage Finance. (Source: http://online.wsj.com/article/SB1000142405274870409320457521...) Any way you slice it, the government has a HUGE role in mortgage issuance in the US. And they have said: > The federal housing agency, which regulates Fannie and Freddie, on Thursday made clear it doesn't intend to let this happen. The agency said it would instruct Fannie and Freddie to 'limit, restrict or cease business activities' in any jurisdiction using eminent domain to seize mortgages. (Source: http://articles.latimes.com/2013/aug/08/business/la-fi-emine...) |