Edward Pinto

Sunday, May 19, 2013

An executive vice president and chief credit officer for Fannie Mae until the late 1980s, Edward Pinto has done groundbreaking research on the role of government housing policies in the lead-up to the financial crisis. In particular, his data have revealed striking facts about the contributions of housing policy to the mortgage crisis. Two of his major research papers have been submitted to the Financial Crisis Inquiry Commission: "Government Housing Policies in the Lead-up to the Financial Crisis: A Forensic Study" and "Triggers of the Financial Crisis." At AEI Mr. Pinto is continuing his work on the role of housing policies in the financial crisis and researching policy considerations and options for rebuilding our housing-finance sector.

Congressman Mel Watt with Congresswoman Barbara Lee during a news conference in Cuba, April 2009. Image Credit: REUTERS

Economics, U.S. Economy

President Obama to nominate Rep. Mel Watt as the director of the Federal Housing Finance Agency

Edward Pinto | May 1, 2013, 11:02 am

The president is set to make a key staffing announcement later today that will have major reverberations for the US housing market. Several sources report that the president will announce Representative Mel Watt as his choice to run the Federal … read more >

Image credit: Frontpage / Shutterstock.com

Economics, U.S. Economy

Privatizing Fannie: Déjà vu all over again

Edward Pinto | April 30, 2013, 10:53 am

The Bloomberg headline trumpets “Paulson Leads Hedge-Fund Lobby Push to Privatize Fannie.” It should have read: “Hedge-Fund Lobby Seeks Repeat of Disastrous 1968 Fannie Privatization Plan”. The hedge-fund lobby proposes to “privatize” Fannie and Freddie by converting the US Treasury’s … read more >

Economics, U.S. Economy

Let’s not repeat the same mistakes that led to the housing bubble

Edward Pinto | April 26, 2013, 9:06 am

A recent New York Times article entitled “Down Payment Rules Are at Heart of Mortgage Debate” reported that “lenders and consumer advocates — rarely on the same side of the issue — are now cautioning against down payment requirements.” Cited … read more >

Image Credit: Diana Parkhouse (Flickr) (CC BY 2.0)

Economics, U.S. Economy

Realty, Unreality: Are low appraisal values a problem in housing?

Separating facts from whoppers

Edward Pinto | March 11, 2013, 9:51 am

Headlines such as Unrealistically Low Appraisal Values in Up Markets a Problem and Low Valuation in Home Appraisals Causing Steady Level of Contract Glitches are commonly used by the National Association Realtors (NAR). Consider this statement: “Although 65 percent of … read more >

Economics, U.S. Economy

FHA: Reform or illusion of reform?

Edward Pinto | March 1, 2013, 9:25 am

Recently, FHA Commissioner Carol Galante has been extolling the FHA’s efforts at underwriting reform and to shrink its competition with the private sector. For example, with respect to loans greater than $625,500: “The combination of a higher down payment and … read more >

Lean In… to Government?
Sheryl Sandberg's runaway best-selling book Lean In has managed to offend both the Left and the Right. Sandberg touts female hard-headedness, yet also calls for an elaborate government- and employer-supplied support system for women. […]
Are American Voters Racist?
Racial prejudice plays a very small role in American politics, but a highly disciplined sense of self-interest on the part of one group may play a very large role in the way the federal government functions. […]
The Perpetual Passion for Paper
Paper is becoming less important in some respects, but its strengths — prestige, utility, permanence, and security — are more essential than ever. […]
Could California Make a Comeback?
An unexpected glimmer of hope might cast a new light on the Golden State. […]