The groups applauded a proposal to establish minimum GSE capital requirements, but called for more immediate steps to release the companies from conservatorship.
No plan will be implemented as long as Fannie Mae and Freddie Mac remain in conservatorship, but a capital framework for the companies could still have a substantive impact.
The agency proposed new minimum capital requirements for Fannie Mae and Freddie Mac that would only go into effect if the government ends its conservatorships.
The Treasury secretary said reforming Fannie Mae and Freddie Mac will come into focus more in 2019, when Federal Housing Finance Agency Director Mel Watt’s term will end.
After several years of preparation, Fannie Mae and Freddie Mac will start issuing a new, common mortgage-backed security starting June 3, 2019, the Federal Housing Finance Agency said Wednesday.
The House Financial Services Committee chairman is calling out Fannie Mae and Freddie Mac's regulator for authorizing payments to two housing trust funds while the mortgage giants have their own financial struggles.
Despite a legislative push by some senators and other stakeholders to jump-start housing finance reform, efforts to form consensus over a bill once again are stuck in neutral.
As conservator, FHFA Director Mel Watt has substantial leeway to remake the government-sponsored enterprises without congressional input. Here's one way he might do so.
Craig Phillips, a top aide to Treasury Secretary Steven Mnuchin, said his department "broadly" agrees with the FHFA plan, which would return Fannie Mae and Freddie Mac to the private market and provide them an explicit government guarantee.
