Clearly Congress and the next Administration will be focusing rebuilding and redefining the secondary markets, particularly the roles that Fannie Mae, Freddie Mac and the Federal Home Loan Banks play, David Kittle, MBA's chairman-elect, says in a prepared statement. "We want to hear from all sides and get all the options out on the table," Berman says in a prepared statement. "Fannie Mae, Freddie Mac and the Federal Home Loan Banks are pieces of the puzzle, but we have been presented with a rare opportunity here to remake the entire market and need to get it right." MBA did not return a call from GlobeSt.com in time for publication.
The Council, which consists of 20 MBA members, is convening one-day summit on Nov. 19, 2008 during which it will hear from experts in government, academia and other areas on the root causes of the secondary mortgage market's disintegration and what potential solutions should be considered. The Council plans to provide formal recommendations to policy makers in the early spring.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
