My personal opinion is that any housing reform that ends up getting passed will be a disaster for f&f.
Right now there are several camps regarding f&f. One group wants to wind them down, another wants to give all of their business to the big banks, another wants to make them a non-profit utility, another wants them to become a charitable organization (thus non-profit)
I have not heard of any proposed "reform" that would keep f&f intact and profitable. If anyone else has heard of such a thing - I would love to see a link to it. There has been good reform proposed by some in the business community, but I have not seen anything good for f&f being discussed by anyone in gov't.
THANK GOODNESS that the Trump administration is totally incompetent or they would have gotten to housing reform by now. After Jan 1 when the $hit hits the fan and the restrictions on liquidating senior preferred go away, I'm hoping that FHFA will take matters into their own hands and do something good for f&f.