Politics

Industry leaders and mortgage trade groups expressed hope that Bill Pulte's nomination to head the agency could result in more housing supply.

The loss mitigation directives place limits on options and include a long ramp-up period that could accommodate future change from new leadership in Washington.

The president-elect's Cabinet nominee, Scott Turner, committed his support for affordable housing but also said he would examine the effectiveness of all HUD programs.

Scott Bessent, Donald Trump's pick to serve as Treasury Secretary, handled a policy-heavy confirmation hearing with poise, highlighting his preference for relaxed bank regulation, support of the 2017 Trump tax cuts and a hawkish approach to spending.

The removal of the fourth-quarter implementation date also impacts the planned addition of a bi-merge report option.

The nominee to lead Federal Housing Finance is head of Pulte Capital Partners, which invests in homebuilding related businesses.

With the Federal Reserve touting a slower pace of easing, markets are expecting a longer pause. But Gov. Christopher Waller said the next interest rate reduction could come as soon as March because of inflation data.

Hedge fund manager Scott Bessent, President-elect Donald Trump's pick for Treasury Secretary, will appear before the Senate Finance Committee for his confirmation hearing Thursday morning starting at 10:30 am.

The Senate Banking Committee Chair launched an agenda that puts agencies on a shorter leash and separately took aim at the FHFA recent moves.

A former NFL player and representative in the Texas Legislature, Turner served in the first Trump term to lead development in "opportunity zones."