Mnuchin is involved in the ongoing trade war with China, debt ceiling negotiations with Congress and imposing sanctions on Iran. Craig Phillips, Mnuchin's adviser who had been closely involved in the reform plan, also left in June. Despite his heavy workload Mnuchin continues to work with his team on housing finance issues on a weekly basis, a person familiar with the matter told Reuters. Calabria said he expected the Treasury will in the report back some form of government guarantee for Fannie and Freddie.