FHFA Violating Its Role As Fannie, Freddie Conservator: Legal Expert

Now that the Senate Banking, Housing, and Urban Affairs has delayed a vote on the Crapo-Johnson proposal to reform Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) until after the Senate reconvenes from a two week recess, it looks very unlikely that there will be any GSE reform until after the mid-term election. That means that if we’re going to see any change to gradual wind down of Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) this…