Members of the Federal Home Loan Bank system have the ability to compete with Fannie Mae and Freddie Mac in the secondary mortgage market, a new federal study concludes. And that increased competition brings with it both benefits and risks for GSE policymakers. W. Scott Frame, an economist with the Federal Reserve Bank of Atlanta, said the FHLBanks’ Mortgage Partnership Finance program and the smaller Mortgage Purchase Program put all FHLBank members in a