Add another 6 months to Fannie, Freddie recap and release timeline

In a note to investors obtained by HousingWire, Cowen Washington Research Group on Friday said the new rule for the “recap and release” of Fannie Mae and Freddie Mac probably is at least six months away. “We suspect FHFA will reissue the rule out of an abundance of caution,” Jaret Seiberg, Cowen’s managing director, said in the note issued on Friday. “The last thing the agency wants is for the courts to strike down the capital rule because FHFA made enough changes from the proposal that the public needed another opportunity to comment.”