Saturday, May 26, 2018 7:07:20 PM
During the hearing, it was basically confirmed that administrative action is coming. Dems want conservatorship to end before any prospective Trump nominee for FHFA director works his/her magic on housing (see Mick Mulvaney at CFPB). Receivership is not acceptable to Congress, leading to Corker's failure to get anything passed. Jeb might want to shackle Treasury again but not allowed to.
Remember, when Mnuchin mentioned ending the conservatorship, FNMA shot up to $5. That still seems to be the plan. Not receivership, not continued conservatorship. The only thing is how FnF are recapitalized and released at this point (maybe Toomey will be ok with returning dividends in excess of 10% as part of recap?). Devil is in the details.
Still long and strong FNMA/FNMAS!
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