As a key Obama-era policy maker at FHFA departs, some industry insiders worry the new administration will upset years of reform.

Even as FHFA replaces its current ARM index with one created by Freddie Mac, Freddie and Fannie endorse a new SOFR index touted by the Fed as a replacement for LIBOR.

Director Mark Calabria’s decision to reverse former acting Director Joseph Otting’s reversal of a Mel Watt-era decision to defend the constitutionality of the FHFA structure catches GSE observers by surprise.

As the Trump administration winds its way toward some sort of conclusion on GSE reform, industry observers ponder the possible holdups.

The GSEs continue to offload delinquent loans in their mortgage portfolios, bringing the tally of loans sold since 2014 to 117,466 with an unpaid balance of more than $22 billion. Page 9.

In one of the last subprime cases, a New York district court stayed an appeal by FHFA to exclude Freddie from a class action settlement.

One of the last legal dramas from the subprime crisis took a surprise turn last week when FHFA sued Wells over a case that had been settled earlier this year. At stake: more than $1 billion in RMBS issued 13 years ago.

The FHFA has postponed implementation of a complex data standardization process as trade groups worry whether the industry is ready.

The FHFA director adds nonbank counterparty risk to his list of concerns. He is pushing for more competition as a solution for reform. But Realtors have concerns of their own: keeping an explicit government guarantee.

It’s only a matter of time before the Treasury Department unveils its GSE re-form blueprint to White House insiders. But which advisory firm will assist Treasury in selling a new class of Fannie/Freddie stock to the public?