And then the plan avoided any specifics about how they would reform the companies, so it became just another case of talking about reform.
It seems that the only person thinking about the future of the GSEs is Edward DeMarco, acting director of the Federal Housing Finance Agency, the regulator and conservator of Fannie and Freddie.
Earlier this year, the FHFA drew up a strategic plan for the next phase of conservatorship that sought to build a new infrastructure for the secondary mortgage market, reduce the enterprises' dominant presence in the market place and maintain foreclosure prevention activities and credit availability.
On Thursday, the FHFA invited public comment on a proposed framework for a common securitization platform and a model pooling and servicing agreement.Maybe in another four years. -- Written by Shanthi Bharatwaj in New York.