Senate Banking Committee members feel urgency to pass a bill dealing with Fannie Mae and Freddie Mac, but the same obstacles that have stalled congressional action for years remain.
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.
Treasury Secretary Steven Mnuchin has told large U.S. financial institutions including Goldman Sachs and American Express they should do more to help black- and women-owned community banks win federal contracts.
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.
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.
An inspector general’s findings suggest that the Texas bank could face more consequences over how it handled fraud cases last year tied to the Direct Express program.
Complaints made by legacy shareholders of Freddie Mac have no value after the Treasury Department pumped up Freddie and Fannie Mae through conservatorship.
