The government must continue to provide support for the mortgage market in any new housing finance system, Treasury Secretary Steven Mnuchin said Tuesday.
Supporters of an unreleased bill to revamp the housing finance system say the plan strikes a middle ground that can gain support from both sides of the aisle.
An exclusive look at the Senate's tightly held housing finance plan drew the most interest from readers this week, while TD's foray into AI and the roller coaster at CFPB also dominated attention.
Senate negotiators are working on a bill that would place Fannie Mae and Freddie Mac into receivership and replace them with multiple mortgage guarantors, according to sources.
Craig Phillips, a top aide to Treasury Secretary Steven Mnuchin, said his department "broadly" agrees with the FHFA plan, which would return Fannie Mae and Freddie Mac to the private market and provide them an explicit government guarantee.
FHFA Director Mel Watt said Fannie Mae and Freddie Mac should be reincorporated as private entities and the government must provide an explicit guarantee for catastrophic losses in the secondary mortgage market.
Of the more than 30 GOP lawmakers due to retire at yearend - a historically significant level of departures for a single election - several are important to banking policy.
House Republicans are exiting Congress in droves ahead of the 2018 midterm elections and the stakes for the financial services industry could be significant.
Cryptocurrencies continue to pique the interest of our readers, with a warning on bitcoin taking the top spot and a story about Ripple's partnership with MoneyGram doing well. Housing finance reform, Wells Fargo and the CFPB also featured.
