Eight Democratic senators have called upon the FHFA and the CFPB to do more than just share information to protect borrowers during the corona-virus crisis.
After Sept. 15, Fannie Mae and Freddie Mac will no longer accept LIBOR loan applications. Moreover, the FHFA and the GSEs expect all loan purchases linked to the London benchmark to cease by yearend.
Most of the concerns about the new regulation hinge on how much profit the GSEs can make under the bumped-up capital levels. Most industry observers appear to be on the side of “not enough.”
The move suggests the GSEs’ public offerings — estimated by some to be worth as much as $200 billion — may take place in the midst of the worst economic crisis since the Great Depression.