In this report, we turn to a strategic assessment of the White House GSE-reform plan for private providers of capital in mortgage finance and for RMBS investors. We look first at the Fannie and Freddie wind-down plans in the white paper because these require little, if any, new law and thus demand the most immediate strategic decisions. Subsequent analyses will look at the strategic implications of the different options proposed for GSE successors and at the future of the FHLBS.
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