FHFA’s Membership Rule Banning Captive Insurers From FHLBanks Could Face Legislative and Legal Opposition
January 28, 2016
A battle on the legislative or even legal front may be brewing that challenges the Federal Housing Finance Agency’s recent decision to exclude certain types of insurance companies from membership in the Federal Home Loan Bank system. The biggest impact of the final rule would be to force a number of real estate investment trusts that have formed captives to gain access to the FHLBanks to give up low-cost FHLBank advances. “The impact on mortgage liquidity and credit access should be...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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