In this analysis, we build on Friday’s assessment of the Treasury/HUD plan to forecast the winners and losers thereby. As before, we focus on the Administration’s administrative action plan, discounting the odds of legislative action. However, we now also narrow our analytical gauge to cover only the actions we think most likely in the near term from the FHFA, FHA, and/or Ginnie Mae. That near term is indeed near is evident from Secretary Mnuchin’s comments this morning indicating that Treasury’s sweep agreement with FHFA is nearly complete.
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