Fannie Mae-No Politics (FNMA)

[Letgoofmyfannie]

One might exprect an experienced hand to wait to buy until after the hit pieces come out


Inside Mortgage Finance

FHFA Director-Nominee Thompson: No Administrative End for GSE Conservatorships
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Sandra Thompson, President Biden’s nominee to be the next director of the Federal Housing Finance Agency, used her confirmation hearing before the Senate Banking Committee this week to dash any remaining hopes for an administrative end to the conservatorship of Fannie Mae and Freddie Mac.

And the FHFA acting director did it so smoothly, probably assuring her confirmation.

When asked by Sen. Thom Tillis, R-NC, about her timetable for releasing the government-sponsored enterprises, Thompson basically turned the question on its head. “We would defer to Congress on the exit from conservatorship for the GSEs,” she said blithely.

Just like that, she shifted the responsibility for ending the conservatorship onto the shoulders of senators like Tillis. She also noted there are many other key stakeholders with a say in how the conservatorship should end, including the Department of Treasury, as majority shareholder of the GSEs; the Department of Justice, as co-litigant in countless shareholder lawsuits; and the White House, which will be looking at the budgetary impact of such a move.

For more details, see the new edition of Inside MBS & ABS, now available online.

can anyone here play the violin?