So a reformed housing finance system should ensure broad access to mortgage credit and capital markets.
First, stable access to mortgage credit is important for households and the economy.
It's harder to get mortgage credit, and you can typically borrow only 50 percent of the purchase price.
In the United States, meanwhile, mortgage credit flows like milk and honey.
This trend has limited the mortgage credit that is available to homeowners.
The giving of mortgage credit is therefore still carried out on a largely national, or indeed local, basis.
In Denmark, for example, mortgage institutions issue bonds to the entire value of the mortgage credit.
We also believe that - in relation to mortgage credit, for example - evaluation is needed.
We are not against the idea of extending the 1987 directive to mortgage credit also.
First American also focused heavily on its mortgage credit reporting business.