Fannie Mae-No Politics (FNMA)

[Wise Man]

CORRECTION.There is a satellite Proposed Rule out there with minor amendments of the Capital Rule, like other amendments since it came into effect on February 16, 2021.
This time, it includes a risk-weight for the recent security "commingled securities", which is the Resecuritization, commonly known as Catastrophic-Loss Reinsurance. The grounds for the Housing Finance System revamp, either Govt- or Private-Catastrophic-Loss Reinsurance, with a g-fee already priced at 9.375bps.
Other minor changes, like a 0.6 risk multiplier on properties with government subsidies. Risk-weight on guarantee assets (FMCC's K-certificates in the Multifamily business) reduced from 100% to 20%.
We see that they are all credit risk assessment changes on assets that already had some credit enhancement among the enumerated ones in the clause Credit Enhancement, here, where the CRTs isn't included. Illegal.
2023 Proposed Rule.
The article is mixing up the Proposed Rule with the RFI, because it talks about a Proposed Rule on "pricing policies"..."price loans for nonbanks and depositories"..."comment letters on pricing", when only the RFI was related to pricing (upfront g-fee or LLPA)
The goal of the plotters is to transmit the idea that the Basel framework is up for debate. They don't like the idea of having used a conservatorship to increase the guarantee fees and ultimately, revoke the Charter, as explained in my prior comment. They rather keep the current Utility Model (secured deals through the extortion of resources out of FnF)