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A stable mix of public and privately administered credit insurance is needed to ensure the future of housing and economic opportunity, UNC Center for Community Capital executive director Janneke Ratcliffe told members of the Senate banking committee today (March 19).

Ratcliffe outlined details during her testimony on “Bipartisan Solutions for Housing Finance Reform” before the Senate Committee on Banking, Housing and Urban Affairs. A senior fellow at the Center for American Progress, Ratcliffe shared proposals developed with members of the Mortgage Finance Working Group formed by CAP in 2008 to chart a path forward for the mortgage market.

“From the 1930s through the end of the last century, the United States enjoyed a vibrant, stable, housing market that evolved to provide liquidity for mortgages in all parts of the country through every business cycle,” Ratcliffe said. “The system was not perfect, but it contains valuable lessons for us as we look to rebuild. By applying those lessons to meet the goals outlined in this testimony, we have the opportunity to build a mortgage market that is fair, accessible, affordable, and fiscally sound, one that works better for more households and communities than ever before.”

The UNC Center for Community Capital is the leading center for research and policy analysis on the transformative power of capital on households and communities in the United States. The Center’s in-depth analyses help policymakers, advocates and the private sector find sustainable ways to expand economic opportunity to more people, more effectively. For more information, visit

Topics(s): Affordable Homeownership, Mortgage Finance, Other, Testimony
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