As the debate warms up about the future of housing finance, panelists at the Mortgage Bankers Association's annual secondary market conference were unanimous in their endorsement of the 30-year-fixed rate mortgage.

Ginnie Mae President Theodore Tozer indicated that detractors of the long-term fixed-rate product, who point out that other industrialized countries have gotten along just fine without long term fixed-rate products, haven't been talking to the same people he has.

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