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.
Reps. Lacy Clay and Emanuel Cleaver, both from Missouri, have shown interest in running the panel that could be a focal point in efforts to reform Fannie Mae and Freddie Mac.
The Democrat, who will likely head the Financial Services Committee, has signaled she'll make expanded housing opportunities for lower-income consumers a top priority.
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.
The presumptive chair of the House Financial Services Committee will likely take the panel in a sharply new direction and have a new bully pulpit to criticize the Trump administration.
The unique approach Fannie Mae and Freddie Mac are each taking with their credit-risk transfer products is quickly becoming a key point of differentiation that's rekindling competition between the government-sponsored enterprises.
