The Trump administration raised the goal posts for ending the conservatorships of Fannie Mae and Freddie Mac, but how officials get there is still highly uncertain.
The mortgage agencies would be privatized under Trump administration plan; central bank will probably cut rates by 25 bps, not 50 bps, at its next meeting.
The Treasury Department made clear in a much-anticipated report that it prefers Congress take up reform of the government-sponsored enterprises, but it also recommended steps that federal agencies could take without legislation.
With officials putting finishing touches on presidentially directed reports on the future of the housing finance system, the Senate Banking Committee announced a hearing to examine the issue.
Readers react to jilted GSE legacy shareholders and a proposal making it harder to cite disparate impact, criticize Democrats asking the CFPB to stop its payday rule revamp and more.
The mortgage industry will be looking for answers when Treasury and HUD unveil reports on housing finance reform, but the Trump administration’s plans could also raise a whole new host of questions.
Though advocates and industry are rarely aligned, they are starting to coalesce around a plan that would call for the elimination of the CFPB’s 43% debt-to-income limit as part of its qualified mortgage rule.
Complaints made by legacy shareholders of Freddie Mac have no value after the Treasury Department pumped up Freddie and Fannie Mae through conservatorship.
With the agency mulling changes to the “Qualified Mortgage” regulation, mortgage lenders say little-known standards for how they document a borrower’s income would be a good place to start.
