Brookings Institute is an economic policy think tank in Washington DC. Brennan Hoban of Brookings has a proposal to redesign the mortgage market.
But it is hard to take this proposal seriously since … Ginnie Mae INSURES mortgages, they do not purchase them from lenders.
True, non-bank lenders like Quicken Loans (and now Amazon is jumping into the mortgage lending arena) are originating more loans than traditional bank lenders.
The author points out that 1) non-bank lenders like Quicken Loans are more vulnerable to liquidity problems if problems arise and 2) analysis should be performed at a local level, not just the national level.