PT - JOURNAL ARTICLE AU - Chris DiAngelo TI - The Rubber Starts to Meet the Road:<br/> <em>Achievable Results in U.S. Housing Finance Reform</em> AID - 10.3905/jsf.2012.18.2.009 DP - 2012 Jul 31 TA - The Journal of Structured Finance PG - 9--18 VI - 18 IP - 2 4099 - https://pm-research.com/content/18/2/9.short 4100 - https://pm-research.com/content/18/2/9.full AB - This article begins by noting that the U.S. Congress and the Administration both remain stymied in the area of housing finance reform, notwithstanding numerous “white papers,” “requests for information,” “roundtables,” and the like. After almost four years, Fannie Mae and Freddie Mac remain in conservatorship, with no clear exit plan. Looking past the top level (Congress and the White House), however, one will see that the two government-sponsored enterprises (GSEs) themselves and their regulator/conservator, the Federal Housing Finance Agency, have begun to make real progress in several areas. In early 2012, the FHFA released a strategic plan for the GSEs and followed that up with a “scorecard” that sets forth in some detail a “to do” list of items that the FHFA intends to get done, along with target dates for those items. The article focuses on four items in particular: the REO disposition program, the “new securitization platform” initiative, the “single security” concept, and the possibility of privatizing the multifamily business. The conclusion is that more progress is being made than the public generally believes.TOPICS: Legal and regulatory issues for structured finance, legal/regulatory/public policy