Score One for Sandra

FHFA’s new scoring system for the GSEs and CSS is a startling, if unsurprising, mission rewrite.  Although Obama and even Trump FHFA directors acknowledged the GSEs’ affordable housing mission, they also emphasized market liquidity and credit availability.  These goals are noted again, but the agency’s prioritization has turned the metrics upside-down, not only heightening the importance of equitable finance to further Director Thompson’s new framework, but also making still more CRT an even greater priority than the pending capital rewrite would have it.