MBA: Don’t Bet on GSE PSPA Change. Mortgage Bankers Association President Dave Stevens said this week he expects no movement by the Trump Treasury Department to modify the preferred stock purchase agreements governing the GSE bailouts that would allow Fannie Mae and Freddie Mac to build retained capital. In an interview with IMFnews, Stevens – who has been in touch with the new administration on GSE reform – noted that the PSPAs do not necessarily require the payment of GSE dividends to Treasury on a quarterly basis. (A commitment fee payment may be required though.)Smaller trade groups – though not the MBA – have asked the Federal Housing Finance...