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Politics and policy

Elizabeth Warren presses Bessent on Fannie, Freddie IPO efforts

GSEs, Politics and policy, Secondary markets /

The top Senate Democrat with oversight of Fannie Mae and Freddie Mac pressed Treasury Secretary Scott Bessent for more details about the Trump administration’s efforts to take the mortgage giants public.  The Treasury Department and the Federal Housing Finance Agency have been holding meetings with housing advocates, think tanks and mortgage industry representatives this month […]

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Fannie, Freddie win for VantageScore causes pain for FICO shares

MBS, Originations, Politics and policy, Secondary markets, Underwriting /

Silvio Tavares waited years for news that finally arrived in July: government-sponsored enterprises Fannie Mae and Freddie Mac would finally allow lenders to use something other than a FICO score to determine whether a customer is credit-worthy enough to buy a home. The wonky policy change, delivered via a social media post after years of

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Trump upends shutdown talks with Democrats as deadline nears

Politics and policy /

President Donald Trump said Democrats must drop their demands for renewing health care subsidies and ending Medicaid cuts before he’ll agree to negotiate with congressional leaders at a meeting they planned for Thursday, ratcheting up the risk of an Oct. 1 government shutdown. “After reviewing the details of the unserious and ridiculous demands being made

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FHFA’s fair lending reversal risks housing market stability

Politics and policy, Secondary markets /

The Federal Housing Finance Agency (FHFA) issued a proposed rule to repeal its Fair Lending, Fair Housing and Equitable Housing Finance Plan requirements — regulations it finalized barely a year ago — and is inviting the public to comment on this proposal until Sept. 26. It is one of the agency’s swiftest reversals of a

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FHA premium cancellation bill reintroduced in the House

FHA, LOAN PRODUCTS, Originations, PMI, Politics and policy, Servicing /

A bipartisan bill looking to end the Federal Housing Administration’s life-of-loan requirement for that form of mortgage insurance coverage has been reintroduced in the House of Representatives. The Mortgage Insurance Freedom Act was previously introduced in last year’s lame duck session of Congress by Rep. Gregory Meeks, D-New York, and Rep. Pete Sessions, R-Texas. Under

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Why FHFA is exiting network for ‘greening’ financial system

Politics and policy, Secondary markets /

The regulator for two government-related mortgage investors is leaving the Network of Central Banks and Supervisors for Greening the Financial System, according to the former’s director. Director Bill Pulte informally circulated the departure on the social media platform X in line with his practice of using that forum to announce new policy. Pulte heads the

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How the Trump administration has neutralized the CFPB

CFPB News & Analysis, Politics and policy, Regulation and compliance, Trump administration /

Key Insight: The CFPB still exists and mass layoffs have not yet occurred but the Trump administration has dropped enforcement actions and eliminated rules, nullifying the agency’s broad reach.  Expert Quote: “The last eight months or so have been unlike any others with just a completely different tenor, completely different levels of activity and a

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More rate cuts eyed as Fed zeroes in on soft labor market

Economy, Federal Reserve, Monetary policy, Politics and policy /

Key insight: The Federal Reserve’s move to cut rates was bolstered by growing concern over a softening labor market. Expert quote: “Almost everyone wrote down support for this cut. Some supported more cuts, and some didn’t — and that’s just how it is,” — Fed Chair Jerome Powell  What’s at stake: Despite the Fed moving

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Fed watchers anticipate rate cuts, watch for dissents

Economy, Federal Reserve, Monetary policy, Politics and policy /

What’s at stake: The Federal Reserve’s interest rate-setting body is expected to cut the federal funds rate by 25 basis points, but markets are also listening for hints of further and/or deeper cuts in the coming months.   Expert quote: “There’s the possibility that the Fed will be sending mixed messages because the consensus probably won’t

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Housing organizations call for condo loan flexibility

Housing organizations call for condo loan flexibility

Condos and HOAs, Housing markets, Politics and policy /

President Donald Trump has been considering declaring a National Housing Emergency over the past few weeks, and some housing organizations are putting in requests for items to be included. The Community Home Lenders of America and the Community Associations Institute jointly asked the administration Wednesday to allow the Federal Housing Administration to insure loans on

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