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The report, which identifies recommended legislative and administrative changes of the government sponsored enterprises (GSEs), is very much in line with mainstream expectations, with modest exceptions.
Most attention should be on the administrative reform proposals, as few believe Congress will do anything for some time. Importantly, the administrative reform proposals are dominated by future studies, negotiations, and decisions--all with no public timeframe or deadline specified, most to be done by the Federal Housing Finance Agency (FHFA). Essentially, this is a roadmap and a statement of intent, with more to come at some unknown time.
Read Layton's full post to see a list of key issues that need to be addressed in administrative reform, along with a small commentary on each, the expectations previously held by the mainstream of housing finance observers, and the result in the Treasury document, for comparison.
