The proposed rule would require the GSEs to write living wills that include no government support. However, their PSPA with Treasury includes letters of credit with an outstanding balance of $254 billion.

When the FHFA appointed two new independent directors to the CSS board in January, it changed the balance of power in its favor.

The co-inventor of the MBS says Fannie and Freddie should be regulated as utilities to improve their affordable housing and racial equity activities. He recommends Treasury use its equity to fund joint venture.

Industry insiders speculate on how the Biden administration might alter the recently amended preferred stock purchase agreement.

The new PSPA will allow Freddie Mac and Fannie Mae to continue retaining earnings until they reach the regulatory minimum capital — almost $283 billion combined.

Justice Stephen Breyer raised eyebrows by characterizing the government’s net worth sweep of Fannie Mae and Freddie Mac profits as nationalization of the GSEs.

House Financial Services Committee Chair Maxine Waters, D-CA, wants various rules and regulations introduced during Trump’s presidency to be rescinded or replaced.

In testimony before lawmakers, both Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell stressed that time and care is needed to raise capital before the GSEs exit conservatorship.

FHFA Director Mark Calabria and Treasury Secretary Steven Mnuchin seem to have different motives to take the GSEs out of conservatorship. However: Will they be able to reach an agreement soon?

Although FHFA claims to have taken steps to improve its supervisory prowess, no signs of those improvements are apparent, the agency OIG said in its semi-annual report to Congress.