Government-sponsored entities (GSE’s), most commonly referred to as federal agencies are financing entities created by Congress to fund loans to certain groups of borrowers, such as homeowners and farmers. The four most common GSE’s are:
- Federal National Mortgage Association (FNMA – Fannie Mae)
- Federal Home Loan Mortgage Corporation (FHLMC – Freddie Mac)
- Federal Home Loan Bank (FHLB)
- Federal Farm Credit Bank (FFCB)
Drexel Hamilton is a selling group member for FNMA, FHLMC, and FHLB. This allows Drexel Hamilton to participate directly with the GSE’s in their short term, long term, and structured debt offering. In addition to the above issuer, Drexel Hamilton is a Discount Note Selling Group Member in Tennessee Valley Authority (TVA)
Along with the above, Drexel Hamilton has access to debt offerings by:
- Farmer Mac (FAMCA)
- World Bank (WB)
- Inter-American Development Bank (IADB)
- International Finance Corporation (IFC)
Led by highly respected industry veteran Steve Ivcic, the government debt trading team at Drexel Hamilton provides the kind of expert advice and value added portfolio management strategies that clients can rely on. Having served on the Steering Committee for the Agency Traders Association, Ivcic spent the first decade of his career as Head Agency Trader and Senior Vice President at Prudential Bache Securities. He then helped build County Natwest GSI as a Managing Director before continuing his trading career as Head Agency Trader at Donaldson, Lufkin & Jenrette. Using more than two decades of trading expertise, Ivcic garnered nine years of additional and diversified experience on the “sell” side at UBS, Oppenheimer and Wachovia/Wells Fargo. Ivcic holds FINRA Series 24, 7, 63, & 65 licenses.
Working with Steve Ivcic is Harry Smith, a 30+ year Fixed Income market veteran. Smith started his trading career in Agencies at Kidder Peabody & Co. in January of 1987. In February of 1990, a then start-up agency opportunity became available at Deutshce Bank, where Smith spent 22 years building out and trading the agency products. Smith holds FINRA Series 7 & 63 licenses.