In this report, we analyze the implications of an array of recent actions that suggest work is well under way to collapse Fannie and Freddie into a single colossus. We here assess the legal factors constraining this effort, the results for the residential-mortgage market and – stepping out on a limb – the degree to which a single GSE will be the announcement Treasury Secretary Geithner yesterday said will be forthcoming in the next few weeks.
The full report is available to subscription clients. To find out how you can sign up for the service, click here.