Senate Banking Committee

After the State of the Union speech Tuesday night, members of the House and Senate banking committees said they were intent on trying to address the biggest unresolved piece of financial services policy: housing finance reform.

Despite the release of Senate Banking Committee Chairman Mike Crapo's outline of a government-sponsored enterprise reform plan, most policy changes will likely come from the White House, and may even materialize this year, said Keefe, Bruyette & Woods.

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.

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

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 process to confirm Mark Calabria as FHFA director could be lengthy, forcing the White House to consider how it will proceed with housing finance reform under Joseph Otting as acting head of the agency.

The White House confirmed that it plans to nominate Mark Calabria as the next director of the Federal Housing Finance Agency.

The end of one-party rule in Washington could move the needle on efforts to devise a new housing finance framework.

Majority Leader Mitch McConnell filed a motion for cloture on the nomination of Kathy Kraninger to run the agency, setting up a potential vote later this month.