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Bad News for Housing Stocks, Good News for Homeowners?

It seems logical that the covered bonds concept would not work especially when executed by banks which have no or little experience in this area ; ending up in a legal mess seems eminent .

Fannie / Freddie ( GSEs ) have been successful in carrying out their business for many years ; they should be fine in doing what they have been doing .

The US financings are structured using the two GSEs as the nucleus , for many years .

Any change to the established structure when the economy is fragile , would only intensify confusion , loss of public confidence and faltering of the economy .

Changes should be executed when economy is stabilized .