FHFA and Treasury haven’t discussed how to make the 2021 changes to the PSPAs permanent or whether to ease the capital requirements for the GSEs.

The Federal Housing Finance Agency acting director said there are lots of questions that must be answered before Fannie and Freddie can exit government supervision.

Biden’s FHFA nominee Sandra Thompson has made it clear that the agency can’t end the conservatorships without help from the Departments of Treasury and Justice and, most importantly, Congress itself.