The system for financing U.S. house-buying needs an overhaul. Fannie Mae and Freddie Mac — the two giant, and now discredited, institutions that buy or guarantee the vast bulk of U.S. mortgages — need to go.

This week, the Obama administration hosts a conference to debate the government’s role in the mortgage business. But, the American dream of home ownership, long a staple of Fannie and Freddie’s self-promotion, makes tackling them a politically difficult task. And Washington has displayed little desire to do anything about the two agencies despite major flaws evident long before the recent crisis began.

The commentaries published in our latest ebook uncover aspects of the mortgage finance saga and present ideas for reform.

Waking Up: Fixing Mortgage Finance and the American Dream