Acting Director Sandra Thompson undoes some of the organizational changes initiated by former-Direct Mark Calabria.

The mortgage industry’s warnings that the restrictions placed on the GSEs would tighten credit availability for less qualified borrowers were not lost on the Biden administration.

The changes would reduce Fannie’s and Freddie’s capital requirements and increase incentives to issue CRT transactions.

The support of the powerful House Financial Services Committee chair improves the chances that FHFA Acting Director Sandra Thompson’s job becomes permanent. It also casts doubt on the rumored nomination of CRL President Mike Calhoun.

The new K-deals with all-cash collateral will be used to pre-fund K-deal A-M certificates.

The mortgage giant last week announced its first-ever cash tender offer for its signature CRT product — Structured Agency Credit Risk debt notes.

Homeowners in manufactured housing communities will no longer have to relocate their house before selling it. Also, the seller will have the right to sublease the pad site to the new owner.

But the influential HFSC chair — who has no Congressional vote on such a nomination — also noted the acting director’s experience as a prudential regulator...

Investors in Freddie’s new When-Issued K-Deal have the right to exchange them for K-deal A-M certificates to be issued in the future.