Key insight: The NDAA is one of Congress’ few must-pass measures, and has always attracted a raft of financial and other policy-realm riders. What’s at stake: The housing package would cut red tape for housing construction and let state and local governments use government funds to promote housing supply. Forward look: House banking committee Chairman […]
Housing falls out of must-pass defense spending package Read More »
Key Insight: Expectations are building that the regional Fed president reappointments set for February will break from historical norms, with a higher likelihood of dissents from the board of governors expected at the very least. Expert Quote: “A couple of ‘no’s’ or abstentions can illustrate that the reappointment process is not merely a rubber-stamping or
Inside the brewing battle over regional Fed bank leadership Read More »
Senate Democrats are pressing their Republican colleagues to summon the Trump administration’s top housing regulator to Capitol Hill for questioning about his turbulent tenure overseeing the nation’s $13 trillion mortgage market. Federal Housing Finance Agency Director Bill Pulte should be called to testify before lawmakers no later than the end of January, the Democratic members
Senate Democrats want FHFA chief Pulte to testify by January Read More »
Arizona Senator Ruben Gallego wants to use an employment-based visa program to draw more foreign investment into the US housing market, the latest proposal from Washington aimed at easing an affordability crunch caused by years of underbuilding and higher mortgage rates. Gallego – a Democrat whose travel to key states this year spurred speculation of
Senator seeks to tap foreign visa program to ease housing costs Read More »
Even as the regulator for Fannie Mae and Freddie Mac floats new product ideas, the enterprises’ overall footprint has stayed fairly steady. Still, some experts think more shifts could be ahead as they move closer to a public offering. As is the case with many aspects of their business, a balance will need to be
How Fannie, Freddie product mix could shift with a stock offering Read More »
Key takeaway: Treasury Secretary Scott Bessent said in an appearance Wednesday that the Federal Reserve should require regional Fed presidents to reside in their districts for three years going forward. Supporting data: All 12 regional Fed presidents’ terms expire every five years and are reappointed as a bloc. The next vote on reappointing regional bank
Bessent floats residency rule for regional Fed presidents Read More »
Bill Pulte, the director of the oversight agency setting policy for the government-sponsored enterprises, has pressed Federal Reserve Chair Jerome Powell to do more to lower mortgage rates but the GSEs themselves also have a hand in loan pricing that reform could impact. A Fannie Mae study notes that while the 10-year treasury yield that
How GSE changes in LLPAs, MBS could shift rates Read More »
Embattled MV Realty has settled a lawsuit filed by Idaho Attorney General Raul Labrador involving an agreement it promoted known as Non-Title Recorded Agreements for Personal Services or NTRAPS. These contracts, also known as “Homeowner Benefit Agreements,” lock a homeowner into a long-term arrangement to sell the property in exchange for a fee. This encumbrance
MV Realty settles NTRAPS cases in Idaho, New Jersey Read More »
Key insight: Bank regulators plan to continue with tailoring exercises and other deregulation. Forward look: The regulators should be back in the Senate Banking Committee in the new year per oversight requirements, but oversight hearings have been scarce in this Congress. What’s at stake: Banks are watching as key rules like Basel III endgame and
In Congress, bank regulators defend Trump agenda Read More »
Key Insight: Even though ethics violations among Fed officials are uncommon, high-profile cases like that of former Fed Gov. Adriana Kugler highlights persistent questions about oversight effectiveness. Expert Quote: “When you’re in a position that’s as influential as working at the Federal Reserve, you’re governed by the law of Caesar’s wife — be above suspicion.”
Does the Fed have an ethics problem? Read More »