Although the Office of Federal Housing Enterprise Oversight has claimed victory in completing work on a final risk-based capital standard for Fannie Mae and Freddie Mac by year-end 2000, an anxiously awaited rule may not actually be published until the latter part of this year. Part of the delay can simply be attributable to the change in administrations in Washington. But some of the blame also is falling squarely on OFHEO, which apparently has not