The housing starts number for October was recently released. Based on higher interest rates and overall supply considerations, the number was supposed to moderate from the big September results. In September new starts increased by a whopping 7%.

A lot has changed in the 15 years that Fannie Mae and Freddie Mac have been in federal conservatorship, including a restoration of the health of the mortgage market and the financial strength of these housing-focused enterprises. What hasn’t changed is the need for the federal government to follow established law and ensure its conservatorship of Fannie and Freddie is temporary.

The consequences of uncoordinated regulatory standards at the federal level are creating an artificial problem at the local level, potentially endangering many community banks’ ability to lend to local customers.

The debate over housing-finance reform often ends up deep in the weeds, but the esoteric details are often of the utmost importance to community banks. Recent developments in Washington bear that out.

With Labor Day behind us and summer coming to its unofficial end, now is a good time to reflect on what the community banking industry has achieved so far this year in the advocacy arena—and what remains to be done this fall. Fortunately for the local communities we serve, community banks have followed the historic successes of 2018 with many notable policy victories.