NCUA

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

Depository mortgage lenders are optimistic the final version of a regulation designed to open up the flood insurance market will make it easier for them to comply with a rule requiring them to accept private carrier policies.

The Senate Banking Committee will examine the nomination of Mark Calabria to oversee the regulator of Fannie Mae and Freddie Mac, as well as nominees for the NCUA board and Treasury.

The federal agencies said in a recent statement that “guidance does not have the force and effect of law,” but two trade groups say that standard should be more binding.

At least six Trump administration picks to fill financial posts are still pending, but the bitterly partisan divide over Judge Brett Kavanaugh has taken up most of the energy in Congress.

The House of Representatives passed two bills that would tie appraisal waivers for Small Business Administration loans to bank rules for commercial real estate loans, despite objections from the Appraisal Institute about its members being cut out of transactions.

Regulators will continue to issue guidance to articulate general views on appropriate practices, but they will not issue enforcement actions based on violations.

The administration is prolonging a decision on a permanent director for the agency to keep the interim chief in place until year-end or longer.

The Trump administration should not name J. Mark McWatters as head of the consumer agency, given his lack of experience overseeing commercial banks and his leadership of the National Credit Union Administration, a cheerleader for the industry it supervises.

In his current position as chair of the National Credit Union Administration, J. Mark McWatters has publicly advocated for cutting back the CFPB’s oversight of the credit union industry.