Unfortunately, the GSEs are still vilified by many Americans. In the end, all the middle class really cares about is their 30 year fixed and affordable access to credit.
If the gov can provide these essential elements of the mortgage market outside of FnF, the vast majority of consumers won't care who originates the mortgage as long as it's cheap and attainable (within reason). I could very likely see a Corker-Warner-like proposal being funded by profits generated by FnF. Hopefully this won't happen, or they will at least be released from conservatorship without being liquidated.
I still retain a long-term positive outlook on FnF, but a dose of reality is never entirely bad. I hope that the sooner we approach net zero, the more congressional and market psychology will change in favor of shareholders. Unfortunately, for now, we seem to be on the bottom rung of the priority list.
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