``Recently Edward DeMarco, Acting Director of the Federal Housing Finance Agency (FHFA) and thought to be a good guy by most accounts with whom I've spoken, sketched in a broad outline of the agency's vision for the future of the mortgage finance markets in the coming years. That future, of course, may or may not include Fannie or Freddie. It seems that the FHFA has three goals for its conservatorship: build a new infrastructure for the secondary mortgage market, gradually contract the GSEs' dominant presence in the marketplace while simplifying and shrinking their operations, and maintain foreclosure prevention activities and credit availability for both new and refinanced mortgages.''

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