The process to confirm Mark Calabria as FHFA director could be lengthy, forcing the White House to consider how it will proceed with housing finance reform under Joseph Otting as acting head of the agency.
The White House said that Comptroller of the Currency Joseph Otting will serve as acting director of the Federal Housing Finance Agency beginning Jan. 6 after the end of the Director Mel Watt’s term.
The Trump administration wants to work with Congress on freeing Fannie Mae and Freddie Mac from government control, though it's considering pursuing some changes on its own, Treasury Secretary Steven Mnuchin said Tuesday.
The administration’s reported interest in having the White House aide run Fannie Mae and Freddie Mac's regulator signals a focus on constraining the mortgage giants’ role in the housing market.
The sustained rise in home values will boost Fannie Mae and Freddie Mac's loan limits for 2019, marking the second consecutive year in which it increased by nearly 7%.
The proposal by Fannie and Freddie’s regulator to impose bank-like capital requirements would be relevant only if the companies leave conservatorship. But that hasn’t stopped lenders from requesting changes.
