On August 17, Treasury announced modifications to the Preferred Stock Purchase Agreements between Treasury and the FHFA to expedite the wind down of Fannie Mae and Freddie Mac.  The modifications include: (i) the accelerated wind down of the retained mortgage investment portfolios at Fannie Mae and Freddie Mac; (ii) an annual taxpayer protection plan; and (iii) a full income sweep of all future Fannie Mae and Freddie Mac earnings to benefit taxpayers.  Treasury Release.  FHFA Release.