Navy, I didn't see any mention of this.. Perhaps you missed it. You copy and pasted the first part of this report, but way down at the bottom, was this bearish report..........
"What Michael Bright’s Resignation Might Mean for GSE Reform
By Paul Muolo
pmuolo@imfpubs.com
Acting Ginnie Mae President Michael Bright handed in his resignation this week, creating yet another vacancy in the Department of Housing and Urban Development hierarchy, and sparking discussions on what his departure might mean for reform of Fannie Mae and Freddie Mac.
Although Bright – a former Milken Institute fellow, Capitol Hill staffer and mortgage banker – worked for Ginnie, he was a resource the White House could tap as government-sponsored enterprise reforms move to the front burner this year.
But no more. Bright’s resignation from the government guarantor is effective Jan. 16. Later this month he will become president and CEO of the Structured Finance Industry Group.
The Cowen Washington Research Group opined in a new report that Bright’s departure from Ginnie is a “negative for those who favor recap and release of Fannie Mae and Freddie Mac. This is because we believe Bright will have more influence over GSE reform at the helm of the SFIG than he did within HUD. And we don’t see SFIG pushing for a return to the old system…” For the full story, see the new edition of Inside MBS & ABS, now available online."
