According to court filings, beginning in 2016, the FHLB-SF developed a proposal for the bank to purchase one of the GSEs. To assist in the process, the bank also engaged the services of McKinsey Consulting.

In a contract worth up to $45 million over four years, the M&A specialist will help FHFA develop “a roadmap to responsibly end the conservatorships” of Fannie Mae and Freddie Mac.

All applications for LIBOR-based single-family and multifamily ARMs must be dated Sept. 30 or earlier or they won’t be eligible for sale to the GSEs.

FHFA Director Mark Calabria is delivering on his promise to revamp the agency in preparation for the end of the GSE conservatorships.

The CFPB plans to move away from the use of DTI as a criteria for a qualified mortgage, and instead opt for a pricing threshold.

SIFMA said the Ginnie-like market structure proposed by FHFA isn’t appropriate for conventional MBS. Moreover, the plan doesn’t address the continued misalignment of MBS issued by Fannie and Freddie.

One of the key jobs of the Financial Stability Oversight Council is to make suggestions and recommendations to regulators to avoid SIFI designations, the FHFA director said.

Policy changes impacting 15% of GDP in an election year are inherently risky, according to Isaac Boltansky of Compass Point. The result, he said, is likely to be “a long and winding road” toward housing-finance reform.

The GSEs’ loan performance data excludes various loan types, such as ARMs and low-documentation loans, that performed poorly in the financial crisis. Nearly half of the GSE loans originated in 2006 and 2007 are expurgated from the data provided to CRT investors.

Because it controls the senior class of stock in Fannie and Freddie, the Treasury is in the driver’s seat on recap and release. Former Freddie CEO Layton weighs the government’s options, using AIG as a blueprint.