Federal Housing Finance Agency Director Mark Calabria said the controversial amendments made to Fannie Mae and Freddie Mac‘s Preferred Stock Purchase Agreements in late January should be just the start.
“I said in January when the PSPA were signed — there needs to be another set of amendments. January really is a bridge,” he told Wells Fargo‘s Kristy Fercho, chair-elect of the Mortgage Bankers Association, at the trade group’s spring conference. “We knew when the January memo was being signed that Fannie would hit the retained earning caps and the sweep would go into place. And so details ⇒
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