ocr no details yet. It was posted on several blogs though. Even calculated risk talked about it. There were no details but the most I read was that the govt will “encourage” the gse’s to forgive the debt. Nothing was detailed on what loans, recourse non recourse, firsts, seconds, etc… Given the recent losses posted by the gse’s this seems impossible. Given we have an election and a failed stimulus program this may be inevitable or something like it.
