On Tuesday, I attended the “Conference on the Future of Housing Finance” hosted by Treasury Secretary Tim Geithner and Housing and Urban Development Secretary Shaun Donovan in the Cash Room at Treasury. I believe Annaly was invited because we have been actively engaged in the process in Washington, including submitting a response to Treasury’s request for public input on housing finance reform, and because we are a sizeable representative of the constituency of mortgage investors. We’re glad to be a part of the discussion, as I feel it is incumbent on us to share our views with policymakers and legislators on this matter of great national importance. As a company we are active in the markets, and we believe that our experience and insight can help provide some context and sense of consequences for different policy options.
The purpose of this letter is not to provide a play-by-play summary of the conference, as these details have been well-described in other venues and media. Rather, with this letter I hope to provide a few of my main take-aways.