Banks and real estate: writing rules from the national banking act of 1864 to now
Alex J. Pollock | American Banker
February 05, 1993

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New regulatory restrictions on real estate lending are being introduced, in a normal reaction to the problems of real estate lending brought vividly to everyone's attention during the last few years. Bank regulators have published loan-to-value regulations for various categories of real estate loans, as required by the FDIC Improvement Act of 1991.

Discussion of these rules stressed recent events and included arguments that "adopting loan-to-value percentages in a regulation would be unnecessarily rigid." As usual in American banking, the debate displayed no sense or knowledge of history. The issues are hardly new. . . .

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Alex J. Pollock is a resident fellow at AEI.

 

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About the Author

 

Alex J.
Pollock
  • Alex Pollock joined AEI in 2004 after thirty-five years in banking. He was president and chief executive officer of the Federal Home Loan Bank of Chicago from 1991 to 2004. He is the author of numerous articles on financial systems and the organizer of the “Deflating Bubble” series of AEI conferences. In 2007, he developed a one-page mortgage form to help borrowers understand their mortgage obligations. At AEI, he focuses on financial policy issues, including housing finance, government-sponsored enterprises, retirement finance, corporate governance, accounting standards, and the banking system. He is the lead director of CME Group, a director of Great Lakes Higher Education Corporation and the International Union for Housing Finance, and chairman of the board of the Great Books Foundation.

    CLICK HERE TO DOWNLOAD ALEX POLLOCK'S ONE-PAGE MORTGAGE FORM
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    Email: apollock@aei.org

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