The re-proposal means the industry can expect extensive revisions. Nevertheless, the FHFA said the move will not affect the timeline for the recap and re-lease of Fannie Mae and Freddie Mac.
Craig Phillips, the former Treasury point man on housing reform, told industry insiders that the recap and release of Fannie and Freddie should “really respect the rights of the current shareholders.”
The decision, hinted at in numerous (recent) press briefings by FHFA Director Mark Calabria, is not expected delay to companies’ exit from conservatorship.
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.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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