The Federal Housing Finance Agency is proposing to amend its regulations on the responsibility of the board, directors, corporate practices, and corporate governances for the GSEs and Federal Home Loan Banks. It also would apply the FHLB strategic business plans to Fannie and Freddie. This means that the GSEs’ boards would have a strategic business plan in effect at all times, which describes how the regulated entity will achieve its statutory purposes. Moreover, there’d be a provision that requires each GSE board to review the strategic plans annually, re-adopt it once every three years, at minimum, and...