More importantly, the analyst noted, the council threatened to impose still stricter standards or designate the GSEs as systemically important financial institutions if the capital rule was materially softened.

It's not easy being a public company ... but you know that. Right?

This official speculated that perhaps Calabria was referring to the companies’ corporate culture before the financial crisis, when the politically connected secondary market giants were widely feared on Capitol Hill.

In other words, all that chatter about an end to paper document is overblown.

In some cases, shops were selling Ginnie MSRs into a negative position...