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Politics and policy

Mortgage groups praise rollbacks of CFPB nonbank rules

CFPB News & Analysis, Industry News, Politics and policy, Regulation and compliance /

Mortgage industry trade groups quickly expressed support for the Trump administration’s elimination of two nonbank registry rules, including a reporting requirement that first went into effect last year. Leaders welcomed the decision, citing the additional headaches it presented to mortgage lenders with little to no benefit in return.  “Rescinding these two requirements just makes sense,” […]

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As Fed mulls the end of QT, what lessons have been learned?

Federal Reserve, Interest rates, Monetary policy, Politics and policy /

Key Insight: Market watchers expect the central bank to announce an end to its QT program soon, signaling the close of the Fed’s large-scale asset purchases during the pandemic. Economists have varying feelings about the program, with some urging the Fed to reconsider future purchases of mortgage-backed securities. Expert Quote: “You can argue about whether it’s

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What Pennymac wants prioritized in GSE reform

GSE Reform, Politics and policy, Secondary markets, The Great American Mortgage Corporation /

Pennymac outlined what it considers key priorities for a healthy housing market as the Trump administration weighs possible near-term reforms to the government-sponsored enterprises. “The potential for structural action at the GSEs is more elevated now than at any point since the conservatorships began in 2008,” Pennymac’s public policy and government affairs experts wrote in

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KBW says loan level pricing cuts could hurt GSE earnings

LOAN PRODUCTS, Originations, Politics and policy, Secondary markets, The Great American Mortgage Corporation, Underwriting /

If federal regulators were to reduce or do away with loan level pricing adjustments at the government-sponsored enterprises, the effect on borrowers would be modest, but it would reduce earnings at Fannie Mae and Freddie Mac, a Keefe, Bruyette & Woods analysis found. Lower return on equity could put a crimp in privatization plans as

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Inflation up modestly in September; Fed on track for cut

Economy, Inflation, Politics and policy, Regulation and compliance /

Key insight: Inflation cooled slightly but continued upward in September, climbing 0.3% after August’s 0.4% gain. Supporting data: Prices rose 3.0% year over year, tracking with the increase in core CPI. Gasoline jumped 4.1%, while shelter rose 0.2%, its smallest gain since early 2021. Forward look: The results reinforce expectations that the Fed will proceed

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Fannie Mae names Akwaboah acting CEO, replacing Almodovar

Fannie Mae names Akwaboah acting CEO, replacing Almodovar

Career moves, Politics and policy, Secondary markets, The Great American Mortgage Corporation /

Fannie Mae Chief Operating Officer Peter Akwaboah has added the acting CEO title following the departure of Priscilla Almodovar, the company announced late Wednesday afternoon. Akwaboah, a former Morgan Stanley executive, came on board at Fannie in February 2024. In addition, John Roscoe and Brandon Hamara have been named as co-presidents of the government-sponsored enterprise. 

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DOJ opposes CFPB union’s request for rehearing on firings

Litigation, Politics and policy, Regulation and compliance, Trump administration /

Key insight: The Department of Justice filed a motion opposing a Consumer Financial Protection Bureau employee union’s appeal of a DC Circuit ruling allowing the administration to fire hundreds of agency workers. What’s at stake: The CFPB employee union has been arguing that the administration is seeking to shut down the agency, something that only

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Pulte: GSE stock offering ‘as early as the end of 2025’

Politics and policy, Secondary markets, The Great American Mortgage Corporation /

A potential government-sponsored enterprise stock offering President Trump and his team have been “opportunistically evaluating” could be done on a near-term basis, US Federal Housing Director Bill Pulte confirmed late Monday. That offering for an entity that Pulte and Trump have called the Great American Mortgage Corporation “could be as early as the end of

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Credit score update coming early 2026, MBA says

Credit scores, Politics and policy, Regulation and compliance /

Lenders can expect to see a concrete milestone reached in credit scoring changes by early next year, a Mortgage Bankers Association official said at the 2025 MBA Annual conference in Las Vegas on Monday. Sasha Hewlett, associate vice president of secondary and capital markets at the MBA, said regulators are currently weighing credit score change

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Banks urge Trump admin to restore CDFI Fund staff, funding

CDFIs, Politics and policy, Regulation and compliance, Treasury Department /

Key insight: The trade association letter urges the White House to reverse cuts to the congressionally mandated program. Supporting data: The Office of Management and Budget has let go CDFI Fund staff as part of a reduction in force across the government, and the administration has singled out the program for cuts to the extent

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