Re: Fannie/Freddie-“Indy Switch” Is Key.

Got some color that while FHFA was indeed frustrated that SM didn't pull the trigger before leaving office, they were all indeed contending with the issue of not wanting to inflate the value of the cap stack prior to a cap raise.

In other words, this seems to corroborate my "Indy Switch" theory to a Fast Recap: because SM ran out of time and/or “wimped …