The government-sponsored enterprises have continued to expand over the past decade, despite being in conservatorship. New leadership at the FHFA should reverse this trend.
The Federal Housing Finance Agency in recent years has required Fannie Mae and Freddie Mac to contribute to the funds every March, but has yet to make a 2019 request. Housing groups see the delay as a troubling sign.
In the second lawsuit of its kind, more than a dozen of the world's largest banks are accused of price fixing on roughly $486 billion of bonds issued by Fannie Mae and Freddie Mac.
In remarks to credit unions, the Senate Banking Committee Chairman said that fixing the government-sponsored enterprises and data security were priorities.
Mark Calabria, who could be confirmed as early as this month, is expected to focus on changes to Fannie Mae and Freddie Mac’s conservatorships to let the mortgage giants keep more of their profits.
The conventional market recaptured a lot of the first-time homebuyers it lost during the financial crisis, but service members instead have increasingly stuck with loans insured by the Department of Veterans Affairs.
The new regulation, codifying requirements already in practice, is meant to help the mortgage giants prepare for the adoption of a uniform security in June.
If confirmed to lead the Federal Housing Finance Agency, Mark Calabria would have a central role in any efforts to reform the government-sponsored enterprises Fannie Mae and Freddie Mac
