LA Times finds a mortgage for Ben Bernanke

October 8, 2014, 2:53 PM UTC
Fed Chairman Bernanke News Conference Following FOMC Rate Announcement
Ben S. Bernanke, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., U.S., on Wednesday, Dec. 18, 2013. The Federal Reserve is cutting its monthly bond purchases to $75 billion from $85 billion, taking its first step toward unwinding the unprecedented stimulus that Bernanke put in place to help the economy recover from the worst recession since the 1930s. Photographer: Andrew Harrer/Bloomberg via Getty Images
Photo by Bloomberg — Getty Images

Ben Bernanke can rest easy: The Los Angeles Times has his back.

In a speech last week, the former Fed chairman said that when he and his wife tried to refinance the mortgage on their townhouse in Washington, D.C., they were turned down.

This seemed odd to many people — after all, Bernanke is pulling in around $250,000 for speaking gigs, not to mention the fact that he literally used to be in charge of monetary policy for the entire country. If someone who was until recently one of the most powerful people in the economic world can’t refinance, who can?

So L.A. Times reporter did a little shopping around for Bernanke, and he found a number of banks that would be willing to help out the former Fed chief.

“I’m sure Bernanke’s had at least 30 emails from portfolio lenders who are interested in speaking to him and probably would be able to accommodate him,” Donovan Ternes, the president of Provident Savings Bank in Riverside, told Reckard.

Ternes also said his bank could “have that conversation” with Bernanke.

Bernanke would also likely qualify for a loan that looks at liquid assets instead of income, the article reports.

So fear not, masters of the universe — when it comes to financing, you’re probably going to be okay.

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