The exit from conservatorship at well under full capitalization with consent decree seems to be gathering steam at a very fast pace now.
The pressure put on the FHFA director's term from the en banc ruling may have just been what the doctor ordered to get Calabria on board on this. Calabria, at the very least, gets to say he got the job done.
The Housingwire piece explains why Mark Calabria has recently chosen to align himself with the Antonin Scalia School of Law at George Mason University. The legal question in a permanent or semi-permanent consent order(or decree) invokes a myriad of questions requiring expert opinions on settlement construction and filing, and would seem to require a mix of legal, housing, regulatory and legislative repute.
I can only recall a few other places where Calabria might attain skilled advice on this: Stern School at NYU or Columbia would be the other best-known authorities of which I am aware. Maybe Georgetown or Univ. of Chicago on a lesser scale.
There is another quick and simple way to fulfill whatever what capital requirement from MC, and that is the charged new credit line from UST outlined in the UST release plan. If MC and SM get an order from DJT, FnF can be released in a very short period of time. I still think DJT will try to release FnF while he is still in office.
Once the FnF is released, new BOD shall be elected and the BOD shall decide how to acquire new capitals to offset the new credit line.
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