What is Otting’s plan for GSE reform? It’s complicated
By Hannah Lang
The Federal Housing Finance Agency’s acting director, Joseph Otting, has promised that the White House is set to announce an administrative plan to make changes to Fannie Mae and Freddie Mac. But the mechanics of such a plan as well as the timeline have left mortgage industry insiders scratching their heads. …But Otting and the White House could be tracking the economy and thinking ahead, said Karen Shaw Petrou, managing partner at Federal Financial Analytics. Otting “knows as does Mark and as does the White House that confirmation will take some time, and they do not have an awful lot of time to take this kind of administrative action given the state of the economy and the potential downturn and the already evidenced strain in the housing market,” she said.