A bipartisan proposal would allow for the removal of the FHFA director if the agency approves CEO salary increases at Fannie and Freddie beyond $600,000.
B. Riley FBR initiated equity coverage of the mortgage giant, citing housing finance reform proposals that could result in Fannie and Freddie Mac being released from conservatorship.
He would be the second controversial pick by the president to join the central bank in the past few weeks; the JPM CEO said there are too many “onerous and unnecessary” rules.
After a brief delay, the agency’s acting director signed off on Fannie Mae and Freddie Mac contributing to the National Housing Trust Fund and Capital Magnet Fund.
The Federal Housing Finance Agency is planning on finalizing its proposed capital requirements for the government-sponsored enterprises this summer, the agency's acting director said Wednesday.
The Federal Housing Finance Agency, by allowing Fannie Mae and Freddie Mac to split the CEO and president positions, let the companies dodge a congressionally mandated salary cap, the regulator's inspector general said.
Lawmakers still have a long way to go before enacting housing finance reform, but the testimony could signal how future legislative talks will play out.
