The new FHFA director tells Realtors what he will and won’t do for GSE reform. The keys: more capital, more competition, more transparency. The problem: The agency can’t do it all on its own.
The regulator continues its hiring spree, plundering liberally from other departments. We hear Craig Phillips, Treasury’s point man on housing-finance reform, is available.
FHFA Director Mark Calabria has vowed not to monkey with the 30-year FRM or lower loan limits in high-cost states like California. Still, certain stakeholders worry he may try to adjust other areas of businesses.
The National Association of Realtors this week picked apart FHFA's plan to recapitalize the GSEs and release them from conservatorship. NAR, by the way, favors a model where the GSEs are morphed into shareholder-owned utilities.