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FNMFO - Calabria Uses Law To Stabilize GSE Earnings In Front Of Final Capital Rule
Fed Nat Mtg Assn Pfd
Fannie Mae (FNMA) and Freddie Mac (FMCC) have been retaining capital since September of last year as part of the government's plan to end their conservatorships. They are regulated by the Federal Housing Finance Agency (FHFA). Mark Calabria is the director of FHFA. Mark Calabria recently was in front of the Financial Services Committee. There, he told those present (virtually) that Fannie and Freddie are required by law to recoup the $6B in projected losses resulting from the pandemic. That was news to me. As such, Mark Calabria is using the law as a