The housing recovery hinges on reducing economic and regulatory uncertainty while also improving credit availability for potential home buyers, according to Federal Reserve Governor Elizabeth Duke. In remarks provided at the midyear legislative meetings of the National Association of Realtors, Duke described issues impacting the availability of credit for home purchases. She also noted the importance of reducing the shadow inventory of houses in foreclosure. Duke encouraged policymakers to address difficult decisions impacting the future structure of the mortgage market and stressed the importance of addressing regulatory uncertainty, specifically on servicing, capital, and underwriting requirements.