Treasury Secretary Steven Mnuchin was pressed for his views on housing finance reform, what a “modernized” version of the Glass-Steagall Act would look like and a two-tiered regulatory system.
Fannie Mae and Freddie Mac should be able to rebuild a capital buffer to avoid any potential crisis in the mortgage market, according to a coalition of affordable housing advocates, homebuilders and small mortgage lender groups.
Treasury Secretary Steven Mnuchin is expected to face tough questions on the OCC, Glass-Steagall and housing finance reform when he testifies on Thursday.
FHFA Director Mel Watt warned Thursday that to prevent a potential draw on the Treasury Department by the government-sponsored enterprises, he is willing to act unilaterally to rebuild capital at Fannie and Freddie.
Fannie Mae and Freddie Mac issued proposals Monday to create pilot programs for loans on mobile homes, part of an ambitious plan for underserved and rural housing markets.
The Treasury secretary on Monday reiterated an aggressive timetable for tackling the future of Fannie Mae and Freddie Mac, an issue that has long flummoxed Congress.
JPMorgan Chase’s Colleen Briggs and Fiona Greig are among those working on ways to help a growing segment of consumers with wildly fluctuating incomes. Plus, the women of Wells Fargo’s board and a big promotion at Citi.
Senate Banking Committee Chairman Mike Crapo and House Financial Services Committee Chairman Jeb Hensarling said they believed an agreement on housing finance reform could be struck in this Congress.
Fannie Mae has made three selling guide changes aimed at helping the growing number of borrowers with student debt qualify for home loans, and may begin testing other similar proposals related to this goal.
