FHFA Director Mark Calabria hopes to hire an advisor by next month. He said Fannie and Freddie will need to hire advisors too to help through the recap-and-release process or any possible public offering.

Industry watchers expect David Lowman to join one of the rising fintech firms after he leaves the GSE by the end of the month. Donna Corley will take over as interim EVP.

Fannie and Freddie will be able to retain all their second-quarter profits, rather than forward them to Treasury. Combined, the GSEs will add $5.2 billion to their net worth this month.

SOFR-linked debt is vulnerable to much higher rate volatility than those referencing LIBOR. This risk was highlighted last month when surging repo rates sent SOFR briefly to a record 5.25%.

Freddie elects former SEC Commissioner Kathleen Casey to the board; Fannie executes sixth credit insurance risk transfer deal of 2019.

The shareholders want the SCOTUS to reverse the sweep. They argue that if the FHFA is unconstitutional, then all of its actions were illegal.

After a billion-dollar event, lenders are significantly more likely to increase the share of mortgages they securitize.

FHFA’s Calabria said capital rules for Fannie and Freddie don’t take place in a vacuum; they influence other financial decisions as well.

A lack of consistency in terminology used by the GSEs makes it impossible for the FHFA to assess the cybersecurity risks they face.

If all goes to plan, Fannie Mae and Freddie Mac will retain most of their earnings beginning with the third quarter.