None too thrilled with the FHFA’s decision to re-propose the capital rule for Fannie and Freddie, mortgage lenders are seeking reversal.

Trade groups are wary that any capital rule issued after May could be over-turned if Democrats win the White House and control of Congress in the next election.

Aside from g-fee pricing, most of the ways the GSEs could engage in volume discounting would take place in the secondary market. That means they’re not really violating regulations.