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* a 2003 study by OFHEO of the potential systemic risks posed by the GSEs;
In their objections to the Home Value Protection Program, the Comptroller of the Currency, the Board of Governors of the Federal Reserve, the Office of Thrift Supervision, the National Credit Union Association, and nine banking professional associations stated that the OFHEO and the New York Attorney General's Office failed to follow the requirements of the Administrative Procedure Act in a proposal regulating interstate commerce.
This article begins by providing a complete background to the HVCC, including a discussion of how it came about, why the OFHEO was involved, and what the HVCC's provisions actually entail.
Inspection of the house price dynamics in these tiers indicates that they indeed differ from the composite measure, suggesting that, for our purposes, measurement error using the OFHEO index is likely nontrivial.
"A Note on the Differences between the OFHEO and S&P/Case-Shiller House Price Indexes." Available at: <http://www.ofheo.gov/media/research/notediff2.pdf>.
Misery Index Correlations with significant credit data HESI Data Misery Index 0.64 Prime Mortgage 90 + Day Delinquencies 0.41 0.82 Adjustable-Rate Prime Mortgage 90 + 0.21 Day Delinquencies 0.51 Subprime Mortgage 90 + Day 0.57 Delinquencies 0.68 Adjustable-Rate Subprime Mortgage 90 + 0.42 Day Delinquencies 0.50 Consumer Credit Delinquencies 0.47 1991Q1-2008Q1 Sources: BLS, OFHEO, MBA, Federal Reserve, quarterly data.
19, the Office of Federal Housing Enterprise Oversight (OFHEO) modified the requirements governing how Fannie Mae and Freddie Mac oversee the mortgage purchases they retain in their portfolios.
As a quantitative example, consider the growth rate from 2005 Q2 to 2005 Q3 based on the Office of Federal Housing Enterprise Ovesight (OFHEO) House Price Index (HPI), one of the two repeat sales indices described below.
Despite their potential weaknesses, the Case-Shiller Indices are still an improvement over other house price indices commonly cited in the media, one published by the Office of Federal Housing Enterprise Oversight (OFHEO) and another by the National Association of Realtors (NAR).
In a suit filed against Fannie on December 18 to recover $115 million in compensation, the Office of Federal Housing Enterprise Oversight (OFHEO) said former Fannie Mae CEO Franklin D.
Nationally, average home prices rose 1.17 percent in the April-June period, compared with 3.65 percent in the second quarter of 2005--the biggest decline in price growth since OFHEO started keeping track of home prices in 1975, the new report showed.