We have reviewed the Fed’s most unusual policy paper on housing, sent yesterday to Congress over Ben Bernanke’s signature. In it, the Fed notes several options — REO- to-rental and mega-HARP most important among them. Implicit here is a critique of the FHFA and administration, but nowhere does the Fed focus on its own role in the mortgage freeze the paper laments at length.

The full report is available to subscription clients.  To find out how you can sign up for the service, click here

.