On the issue of FHFA’s constitutionality, the court ruled for the plaintiffs. But rather than invalidate the net worth sweep, the court struck the “for-cause” provision from HERA.

The issues have been argued over so long, and the views of key players are so well known, that the plan itself couldn’t help but disappoint.

The new cap structure will allow each firm to invest up to $100 billion in multifamily projects over the next five quarters. At least 37.5% of that investment must be for affordable housing.

A new rule means FICO will face competition as a credit scoring model for homebuyers, potentially expanding the number of mortgage applicants dramatically.

The agency now says the question about language preference on the revised Uniform Residential Loan Application will be voluntary.

Concerns of industry participants provoke edits and postponement of a new mortgage application form.

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.