Freddie Mac

Just as the Trump administration appears focused on releasing a framework without Congress, the Senate Banking Committee has re-entered the policy fray with a new proposal.

The Senate Banking Committee chairman released an outline for overhauling the U.S. housing finance system more than 10 years after the government put Fannie Mae and Freddie Mac into conservatorship.

Affordability remains a challenge for homebuyers, but barely any mortgage lenders attribute last year's sluggish home sales to insufficient consumer income or lack of loan products for new buyers, according to Fannie Mae.

Mortgage rates moved up slightly after weeks of moderating, but are still low enough not to affect the upcoming prime home buying period, according to Freddie Mac.

The agency's acting director said he welcomes lawmakers' “insight and perspective” on how to end the conservatorships of Fannie Mae and Freddie Mac.

Mortgage originations for the next two years will be higher than previously expected as lower interest rates at the end of 2018 will lead to more refinance volume, Freddie Mac said.

A White House spokeswoman said the administration wants to work with Congress on a housing finance reform plan, providing evidence that changes might not be imminent.

Fixing the housing finance system is "the last piece of unaddressed business from the financial crisis," according to a summary of to-do items released by the Banking Committee's chairman.

The acting head of the Federal Housing Finance Agency has promised substantial changes for Fannie Mae and Freddie Mac, but the exact mechanics and timeline of an administration plan are still a mystery.

Recent comments attributed to the acting head of the Federal Housing Finance Agency (who is also comptroller of the currency) have stoked speculation about the Trump administration’s housing finance policy.