I think those numbers were based almost exclusively on expectations of court cases to be resolved for the plaintiffs. There was still mainly talk in administration and congress of shutting the GSE's completely down then and replacing them with something totally different.
The problem was.....as many of us suspected....there were no substitutes.
That realization finally hit last year. And this is the first year that administration has used its words and deeds toward commitment to the GSE's.
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