Housing finance aficionados may doubt Fannie and Freddie will ever exit conservatorship, but that doesn’t stop them from telling you what that exit would look like.
The Federal Home Loan Banks as well as credit unions argue the FHLBanks’ mission was established by Congress, so only Congress can change it. Consumer advocates, meanwhile, are happy with the Federal Housing Finance Agency’s effort to redefine the mission.
Former Freddie CEO Don Layton said the pilot’s only connection to housing is that some of the homeowner’s equity is used as collateral for the new second.