Andrew Ackerman
speaker
348 appearances
7 recordings
1 series
first heard Mar 2019
last heard Aug 2022
Andrew Ackerman’s voice in public audio — every appearance, attributed to the second.
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multifamily and commercial real estate projects.
There's some concern that you're kind of straying from the core mission of helping out these community lenders that are subject to really strict oversight at the state and federal level.
And instead, you've got these players that don't really have any prudential oversight.
They don't have strong capital or liquidity requirements of their own.
There might be ways around that.
You could basically require them for any loan that they get from the Federal Home Loan Bank, they'd have to post a lot more collateral than a bank would.
But there's still this concern about the straying from the core mission, just as they basically want more revenues.
On the other hand, these guys are much more prominent players in the housing market.
These guys, meaning the non-bank mortgage lenders and REITs, and they lack a stable funding source in a future downturn.
So the idea is if you gave them access to these
The federal home loan banks, you could do it in a safe way, would be kind of consistent with the mission, the broad mission to help serve the housing market.
Yeah, that's kind of why I find this story so interesting is that they're talking about reducing the footprints of Fannie Mae and Freddie Mac to other government chartered companies that are also regulated.
But they have the same regulator as the federal homeowner banks.
And as part of a plan to kind of privatize Fannie and Freddie and kick them out of government conservatorship, they're talking about reducing what they do.
here these other entities that didn't blow up during the crisis they're actually talking about expanding and so there so it is i don't know it's irony it's uh just it's just you know it is um it's a different direction than than the government appears to be taking for these other entities um but the other thing that interests me is just you know fannie and freddie get a lot of attention and rightly so but nobody really knows what the federal homeowner banks do but they're huge they're a trillion dollars
That's how much debt they have outstanding, and they could continue to grow more.
I don't think they're going to do anything that would sort of imperil the ability of community banks to get access to this type of cheap financing.
I think that the concern where you talk about some risks that are bubbling up and the federal homeowner banks, it's a series of post-crisis regulations that have kind of put them, that have favored the federal homeowner banks in a way.
They're difficult to explain, but basically big banks are incentivized to borrow more from the federal homeowner banks.
And that's what's happening right now.
Showing 241–260 of 348 · page 13 of 18
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