Fannie Mae-No Politics (FNMA)

[FOFreddie]

Good Points Rodney5 ! It is not clear that the economics of CRT are a good deal for the GSEs. Layton has been kind of an opportunistic skeptic to date when he was at Harvard. For some reason he seems to pushing lower capital requirements now which seems to be the right outcome based on real facts. The use of CRTs also should result in lower required capital so this is another reason that Layton's current views are most likely rational and timely.