Rep. Patrick McHenry, R-N.C., the ranking member of the House Financial Services Committee, urged Chairwoman Maxine Waters, D-Calif., to prioritize certain "critical areas" in the new Congress.
Fannie Mae and Freddie Mac shares soared Friday amid fresh reports that the Trump administration is working on proposal that would recommend freeing the mortgage-finance giants from government control.
The Milken Institute's plan to address the housing finance system proposes a number of measures that could be carried out by regulators, after years of stalled legislative attempts.
The House Financial Services Committee held a hearing to examine the outgoing committee chairman's bipartisan GSE reform bill, but lawmakers were already looking ahead.
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.
