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Sources Say GSE Plan to be Released Today

in Daily Dose, Featured, Government, News, Secondary Market 35 mins ago

?Two sources have confirmed to DS News that a GSE reform plan will be announced today. The sources said the announcement will be light on detail, but consistent with the Trump administration's previously discussed plans for the GSE.
Once source noted that the announcement will highlight a multi-guarantor model, protecting tax payers, and keeping in place the Preferred Stock Purchase Agreement. Additionally, sources say they are doubtful that this plan will actually end conservatorship by the end of Trump's presidency.
Plans have been in the works for months, as Reuters reported earlier this year that a The Trump administration’s plan for Fannie Mae and Freddie Mac would likely be released in September. The U.S. Treasury put plans for the GSEs on hold as it dealt with other issues. 
DS News' efforts to contact the U.S. Department of the Treasury for comment have not been returned.
“Since entering conservatorship amidst the financial crisis of 2008, the GSEs have served as critical components of a stable and sustainable system of American housing finance,” said Ed Delgado, President & CEO of Five Star Global. “I look forward to the next step in Fannie Mae and Freddie Mac’s development, and hope to see strong, bipartisan cooperation toward protecting and addressing the needs of our nation’s homeowners.”
According to Federal Housing Finance Agency (FHFA) Director Mark Calabria, he hopes Fannie and Freddie will have exited, or will be ready to exit, conservatorship before his term ends in 2024. Calabria told Reuters that he is not operating toward a hard deadline.
“That’s my time horizon,” he said. “I’m under no expectation to try to get all this done. ... So if in four years, nine months they’re not out of conservatorship, I’m not pushing them out.”

https://dsnews.com/daily-dose/09-05-2019/gse-reform-on-the-way