As per FHFA, it has to be congress who has to come up with the reform.. As per Congress, Reform is separate and independent it has to be Treasury, who initiated the cship to end it and as per treasury, FHFA can do it ...
Biden is out of ammo. He has no more cards left to play except... releasing the GSEs and singlehandedly dropping for the 30 year mortgage rates by about 1.25-1.5%