SUMMARY OF THE FINAL RULE The final rule retains the key concepts from the proposed rule and: • clarifies the scope of a new activity and a new product; • enhances the review of pilots; • clarifies which activities are excluded from the review and approval requirements and expands the criteria for excluded substantially similar activities; • distinguishes the information requirements for new product and new activity submissions and reduces the amount of information required for a Notice of New Activity; and • clarifies and improves other procedural elements of the rule such as by making explicit that an Enterprise may consult with FHFA prior to submitting a Notice of New Activity. The final rule also establishes a public disclosure requirement for FHFA to report on its determinations on new activity and new product submissions.
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Will this make it easier for the FHFA to shovel subsidized and loss underwritten mortgages to the current administrations target voter base?
A new substitute for the soon to be extinct $20,000 student loan forgiveness?