Professionals in the U.S. lending community should be keeping an eye on Congressman Scott Garrett’s proposed covered bonds amendment to the Financial Stability Improvement Act of 2009, which is currently pending in the House of Representatives.
If Garrett’s proposed legislation succeeds in becoming part of U.S. law, how competitive could covered bonds become as a source of real estate funding? What is the outlook for covered bonds vis-à-vis MBS from Fannie Mae and Freddie Mac? What is the potential for financing other types of debt — such as auto or small business loans — with covered bonds? Exactly how would the amendment increase the cost efficiency of covered bond funding?
In an in-depth interview for Covered Bond Investor™, transactional attorney Jerry Marlatt of Morrison & Foerster and the U.S. Covered Bonds Council answers those questions and more. Since its release Monday, it has already become one of our publication’s most-read articles ever.
To read the interview, click on the link below:
http://www.coveredbondinvestor.com/news/covered-bonds-amendment-interview-jerry-marlatt