Replies to post #466050 on Fannie Mae-No Politics (FNMA)

[stevelwr1]

Can’t help but wonder about lost opportunity costs. Been holding over 5 years and am way under water from my original purchases. Keep telling myself that if I left something would surely happen with my luck. Still don’t look for anything for quite a while but I can always hope

[bcde]

"legislative action is what mnuchin has been pushing for since he got in there"

Brad,
Thanks, There is no legislative text from Administration?
Congress does not have any consensus on reform. So far one lawmaker from each side makes it as big news of Bipartisan support.

Financial establishment and their lobbyists want Gov explicit guarantees to all MBS issued by them so that they no longer have to sell mortgages to FnF. This is not going to happen in congress and without this there is no legislative reform.

Administrative reforms just involve risk based capital requirements, restrictions on portfolio holding and CRTs. Financial establishment and their lobbyists will never be happy with this.

[Donotunderstand]

please show some evidence of Mnuchin being so weak?

you note he has been pushing legislative action since he got there but there has been none

I do not believe your suggestion

Rather - as I hope he is on our side - I prefer to believe (guess) that he has waited and waited doing (while doing nothing in our favor) --- until it would be "accepted" to move toward some 50-50 win win administrative R and R

Why do you suggest he has been a failure since day one?