Calabria: GSE Public Offerings Possible by 2022

Nov 14, 2019

Photo credit: Getty Images/syahrir maulana

The regulator in charge of the government-sponsored enterprises (GSEs) is predicting they could be ready for public offerings within the next three years.

According to a Bloomberg report, Federal Housing Finance Agency (FHFA) Director Mark Calabria used a speech delivered yesterday at an event sponsored by the American Association of Residential Mortgage Regulators (AARMR) and the Conference of State Bank Supervisors (CSBS) to offer a timeline on the loosening of the GSEs’ federal conservatorship, which has been in place since September 2008.

“If all goes well … 2021, 2022 we will see very large public offerings from these companies,” Calabria said. “The consent decree will be able to give that window where they can go to market, do an offering and still operate under a way where we’ve got some prudential safeguards.”

Calabria added that this timeline would enable the end of federal conservatorship by either 2022 or 2023. However, he warned that the progress on ending the federal conservatorship would be based on market support for the move. Calabria added the FHFA was seeking to select a financial adviser to provide advice on a GSE exit path and hoped to provide an update in the coming weeks on setting up the capital structure for the post-conservatorship GSEs.

In late October at the MBA Annual Convention in Austin, Calabria addressed attendees and noted that the GSEs were "nowhere near ready" to be released from their 11-year-old federal conservatorship.

About the author

Phil Hall

Link copied

Published

Nov 14, 2019

Industry News

Newfi And Addy AI Announce Partnership

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending.Newfi has built innovative lending products and a modern approach to the mortgage market. As the industry evolves, the company continues to exp...

Analysis and Data

Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Homebuyers are putting less money down than they were a year ago, another sign that increased inventory and greater negotiating room are changing the purchase market.The typical down payment fell to $27,100 in the second quarter of 2026, the lowest second-quarter dollar amou...

Nov

Houston, TX

More from

Industry News

CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Industry News

Sep 23, 2026

Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Industry News

Sep 23, 2026

Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

C-Suite Strategies

Sep 23, 2026

Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

Regulation and Compliance

Sep 22, 2026

MPF Expands Eligibility For Manufactured And Renovation Loans

The Mortgage Partnership Finance Program has expanded MPF Traditional eligibility for affordable loans, manufactured homes, renovations, and lender-funded assistance

Industry News

Sep 22, 2026