Obama adminstration seeking public’s input on new system for funding home loans

Gov’t seeking input on home loan future

WASHINGTON — The Obama administration wants the public to submit its ideas for how to remake the institutions that provide money for home loans.

The Treasury Department on Wednesday published a list of seven questions designed to get input from banking and securities industry groups, academic experts and consumer organizations. One of the key questions is how big the federal government’s role will be in supporting the mortgage system.

The administration has not drafted any formal proposals to reform the housing finance system. Mortgage finance companies Fannie Mae and Freddie Mac nearly collapsed in September 2008. Propping them up has cost taxpayers about $126 billion so far.