The CSS board now has four GSE-appointed members and five independents. Fannie and Freddie warned that this new majority will have the final say on any matter during conservatorship and on a number of significant matters following conservatorship (if they ever exit).
Freddie Mac appoints board member Mark Grier to serve as interim CEO while it continues to search for a permanent replacement for David Brickman, who left in early January.
GOP staffers on the Senate Banking Committee said remarks Tuesday by Sen. Pat Toomey, R-PA, were a sign he was willing to compromise on an explicit government guarantee of agency MBS.
But the rule change that has generated the most confusion is one that limits acquisitions of loans secured by investment properties or second homes. One bugaboo: the start date.