The FHFA director said Fannie Mae and Freddie Mac may fully exit conservatorship as early as 2022. Meanwhile, on FHLBank membership to non-banks, Calabria said the agency will soon be putting out a request for information.

Treasury claims the GSEs’ unfair advantage is because of their capital treatment. Urban Institute researchers say it’s because of the government backstop of their credit risk.

Over the last decade, the U.S. has averaged nearly 56,000 wildfires a year, covering more than 6.5 million acres, and destroying thousands of homes. The problem is acute enough that discussions are underway to create a reinsurance market for wildfire damage.

A District Court judge ordered the Treasury Department to produce all documents attached to subpoenas. He also asked the Treasury to produce a log of any documents withheld based on an assertion of privilege.

A GSE offering volume discounts to its customers? Apparently so, but the disclosure, which came from the FHFA, was light on details.

Freddie Mac CEO David Brickman said the GSE has changed, exponentially, in its ability to understand and analyze risk.

The new strategic plan lays out three objectives. However, the agency’s parameters are both general and vague. Don’t bet on legislation.

Freddie prices more than $2.8 billion in multifamily K-deals; Fannie prices $998 million CAS REMIC.

Asked whether freeing the GSEs from conservatorship might enrich hedge funds, FHFA Director Mark Calabria said he would be willing to zero out their interests.

Fannie and Freddie once again posted strong earnings but the results would have been even better if not for large hedging charges. (Includes data chart.)