The House of Representatives late this week passed H.R. 10, the Financial CHOICE Act, which would undo a number of changes to the secondary market and to the regulatory landscape that were ushered in by the Dodd-Frank Act. As previously reported, among these are the elimination of the Dodd-Frank risk-retention requirements for ABS other than residential mortgages. Another provision would enable the president to remove the director of the Federal Housing Finance Agency before the end of the director’s appointed term, with or without cause. It also would make...