Working Paper No. 15

Mortgage Reform under the Dodd-Frank Act

Many, if not most, accounts of the financial crisis of 2008 include a prominent role for the U.S. residential mortgage market. While other U.S. property markets, such as commercial and retail, exhibited similar boom and bust patterns, the elevated level of defaults and associated costs borne by the taxpayer have brought a particular emphasis on American single-family mortgage finance policies. It should be of little surprise that the Dodd-Frank Act contains multiple provisions related to mortgage finance. This paper offers a review of those provisions, followed by an evaluation of their likely impact and effectiveness.

Read the Full Working Paper

Mark A. Calabria is director of financial regulation studies at the Cato Institute.