• (p705) - Statement of Oakley Hunter, Chairman of the Board and President Federal National Mortgage Association
  • Traditionally, financing of housing has come from thrift institutions , commercial banks and life insurance companies .
• (p716) - Philip R. Brinkerhoff, Executive Vice President and Chief Administrative Officer, Federal Home Loan Mortgage Corporation
  • Our goals for the next 5 years would include the following : No. 1, to introduce new funds into the mortgage market by attracting pension funds, bank trust departments, life insurance companies, and other capital sources to invest in mortgage-backed securities.
  • We believe that these additional funds to housing will be needed to meet the capital short fall which will exist in mortgage financing over the next 5 years.
  • Initially, this would be accomplished by the Corporation issuing securities of its own, such as the guaranteed mortgage certificate that I described earlier.
  • We are hopeful that after market acceptance of this type of instrument, individual S. & L.'s or groups of S. & L.'s will be able to issue mortgage-backed securities directly to investors.
    • In this respect, the Corporation stands ready to warrant the quality of mortgages backing these private issues and to act as trustee, fiscal agent, transfer agent, and registrar in the event those services are needed by S. & L.'s in marketing their own securities.

1975 - GOV (House) - Financial Institutions and The Nation's Economy (Fine) "Discussion Principles," - Part 1, Fernand J. St Germain (D-RI)  - [805p-GooglePlay]

⇒  House - Committee on Banking, Currency And Housing - Subcommittee on Financial Institutions Supervision, Regulation and Insurance