TITLE

N.J. Banks Expect New Competition

AUTHOR(S)
P., Shankar
PUB. DATE
September 2008
SOURCE
njbiz;9/15/2008, Vol. 21 Issue 38, p1
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that new competition for home mortgages is expected by New Jersey Banks as a result of the U.S. government takeover of Fannie Mae and Freddie Mac. However, there is a worry for a possible shrinking of the secondary market for mortgages in the long run and others are concerned that some banks may face write-downs because they own stock in Fannie Mae or Freddie Mac. According to Domenick Cama, chief operating officer of Investors Savings Bank, the bailout would immediately impact the business as lenders get more active.
ACCESSION #
34373496

 

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