In 2022, the GSEs will be able to purchase loans nearing $1 million, cutting into what has typically been the non-agency jumbo market.

Critics argue that the mechanical method for determining the loan limits distorts the market and makes it harder for the GSEs to meet their affordable housing goals.

Sandra Thompson, the acting FHFA director, said Fannie and Freddie have responsibilities beyond the narrow affordable housing goals to ensure access to credit for borrowers in all parts of the country.

Critics say FHFA’s proposed changes to the enterprise regulatory capital framework are a move in the right direction, but the agency still hasn’t addressed the procyclicality of the rule or explained how the new provisions were calculated.

The Federal Housing Finance Agency sets new standards for assessing Fannie Mae’s and Freddie Mac’s performance and releases a report assessing its own performance.

Comments from AEI and the Cato Institute say, rather than reduce the capital requirements for the GSEs, FHFA should increase them.

Mike Gill was part of the team brought in by former FHFA Director Mark Calabria to prepare CSS to issue securities for potential competitors of Fannie and Freddie.

Critics say the amendments correct some of the flaws in the rule finalized last December, but it’s still far too conservative when compared to historic losses at the GSEs.

An OIG report finds the GSEs’ expected cost from pandemic-related forbearances has climbed about 30% in the past year.

The Federal Housing Finance Agency’s proposed amendments to the capital rule bring the mortgage giant back to the CRT table.