Senator Corker: GSE Reform Will Not Harm Small Banks

According to an article from American Banker, some lawmakers are pushing back against the idea that GSE reform will disproportionately benefit big banks and lenders. Senior Senate Banking Committee member Bob Corker (R-TN) stated, "There's a misunderstanding that something being designed tilts toward larger institutions." The article notes that, amidst worries that a large-scale overhaul could hurt smaller lenders, some trade associations favor making only minor adjustments to the GSEs. However, speaking of his broader efforts to reform the GSEs, Senator Corker stated, "I think we've learned that the existing infrastructure we have in place is something we need to build off of."

SFIG has and will continue to advocate for holistic housing finance reform, including an appropriate role for government support, transparent and equitable regulatory treatment, and a return to the historical balance of funding between agency MBS (including CRT), whole loan funding, and PLS. To participate in SFIG's GSE Reform Task Force, please email William.Innes@SFIndustry.org.

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