Thoughts on this general move? Any ideas on what this will mean for capital one since meridian has a strong partnership with them on the agency side? Likely to get dissolved now?
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My first thought is that I thought this kind of blatant revolving door stuff was more of a pharma or K street thing. Regulatory capture is ultimately bad for the entire ecosystem.
That said, Ralph Herzka is a deal maker extraordinare. They're probably going to make serious coin on this.
lol, I figured junior-mid level professionals at the GSE's will have their pick of the litter in the agency space once they leave but didn't know even the CEO of Freddie will go down the similar path.
Regulatory capture is so widespread within Fannie and Freddie, I didn't even think about that when I heard Brickman was starting an agency lender. I think this is some big news in the multifamily financing space. I had been hearing that Meridian was trying to buy the Barings license over the past year or two and I thought that would be a big deal...but Brickman coming in as the CEO is a crazy twist. I'm not sure how this would impact CapOne, I wonder what % of their agency business is through Meridian. I also wonder if Ralph had some kind of none-compete (ie, could not obtain an agency license for x years) when he sold Beech Street to CapOne.
I don’t think Ralph owned Beech Street? The owner was Grace H. Also what is regulatory capture?
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