The housing finance system must be given back to the companies that make mortgages and the borrowers who use them to buy homes, keynote speakers said at the Mortgage Bankers Association’s (MBA) National Secondary Market Conference in New York.

Lewis Ranieri, who is generally credited with creating the MBS, warned that the capital markets are being turned over to regulators who are so intent on protecting consumers that they are all but eliminating the private market.

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