Community Lenders Worry That Corker-Warner Bill May Extend Megabank Domination in MBS Market
October 11, 2013
If the mortgage reform legislation drafted by Sens. Bob Corker, R-TN, and Mark Warner, D-VA, becomes law, the mortgage market would be reconstituted in such a way that the nation’s largest banks could dominate the MBS market, according to the Community Mortgage Lenders of America. The CMLA, which represents small- to mid-sized residential lenders, isn’t entirely enthralled with Fannie Mae and Freddie Mac either, but according to a recent letter sent to the Senate Banking, Housing and Urban Affairs Committee, it fears that “too big to fail” banks could prove an even greater danger. The correspondence notes...
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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