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    02.08.12 Professor David Reiss on Fannie Mae and Freddie Mac in Law360
    David Reiss

    In the wake of the U.S. financial crisis, the Obama administration is following calls by critics to wind down mortgage giants Fannie Mae and Freddie Mac. One proposed option, supported by many industry experts, allows the government to absorb securitized mortgage risk with an insurance fee. However, Professor David Reiss, who specializes in real estate and finance law, told Law360 that this proposal might not be a drastic enough shift from other current loan models. “Tons of our credit markets operate with much less government intervention,” he said, referencing the credit card and student loan industries. “Big credit markets like that don't need such immense government intervention and it seems appropriate that the risk and reward should be in those private markets, although there should be a lot of consumer protection.”

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