The American Banker today bases its coverage of the Shelby bill’s GSE-reform provisions on a report Federal Financial Analytics sent last week to our clients.  As the Banker states, we called the bill “stealth” GSE reform and laid out how the risk-transfer provisions combine with others in the measure to transform the agencies into catastrophic guarantors. A major market change with far-reaching competitiveness implications, this approach is akin to bipartisan legislation in the last Congress stripped of many other contentious provisions that stalled explicit reform.

If you would like to see this report again or have any questions, please reply by emailing us at