Why delay and delay?? Why ?
Gses is ready to exit conservatorship at any moment.
Read this phrase carefully quote "FHFA submit an annual report to Congress describing the actions undertaken by FHFA to carry out its statutory
responsibilities,"
This Report meets the requirement of the Federal Housing Enterprises Financial Safety and Soundness Act
of 1992 (Safety and Soundness Act), as amended by the Housing and Economic Recovery Act of 2008 (HERA),
that FHFA submit an annual report to Congress describing the actions undertaken by FHFA to carry out its statutory
responsibilities, including a description of the financial safety and soundness of the entities it regulates. The Report
also meets FHFA’s obligation under Section 1305 of the Dodd-Frank Wall Street Reform and Consumer Protection
Act to report to Congress on the Agency’s plans to “continue to support and maintain the nation’s vital housing
industry, while at the same time guaranteeing that the American taxpayer will not suffer unnecessary losses.”
In its report to Congress, FHFA again asks for the authority now to:
• examine third party servicers; and
• adjust statutory capital definitions, a move that would end the need for complex supplemental
capital requirements.
The agency also weighs in on what needs to come when the GSEs exit conservatorship.
It wants:
• changes to the GSEs’ charter acts to address Treasury’s different role;
• new business models as utilities;
• creation of reserves funded by GSE guarantee fees as an extra layer of loss absorption.
