The housing market is in straits, and many members of Congress are looking to Fannie Mae and Freddie Mac to step in and help. But the two government-sponsored enterprises (GSEs) have troubles of their own. Freddie Mac announced a substantial quarterly loss in late November, following Fannie’s somewhat smaller loss...

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In just a few months, Jim Lockhart, the new director of the Office of Federal Housing Enterprise Oversight (OFHEO), has shown himself to be a nonpartisan administrator, a quick study, and a practical man. Since taking office, he...

Our expert panel will debate what should be done about Fannie and Freddie and the financially huge, politically charged mortgage finance sector in general.

Reform focused on sustainable lending would have FHA target a projected average claim rate of 5 per 100 insured loans under normal circumstances and 10 per 100 insured loans under stress circumstances.  This rate is about five times the normal default level for prime loans and about half the FHA's traditional default level under normal circumstances.

The United Nations World Summit—the largest gathering of heads of state in history—will convene this month to review and debate Secretary-General Kofi Annan’s plan of reform for Turtle Bay. What are the prospects and challenges for effective UN reform? Is the September summit likely to produce meaningful changes...

A little bit of money goes a long way in Afghanistan.