Regulatory reform

Lawmakers still have a long way to go before enacting housing finance reform, but the testimony could signal how future legislative talks will play out.

The Federal Housing Finance Agency in recent years has required Fannie Mae and Freddie Mac to contribute to the funds every March, but has yet to make a 2019 request. Housing groups see the delay as a troubling sign.

David Brickman will take the helm of the mortgage giant at a time of transformation in the mortgage market and housing finance policy.

There’s bipartisan consensus that the conservatorships of Fannie Mae and Freddie Mac are unsustainable, but that may not be enough for lawmakers to upend the current system.

As debate over the future of the mortgage finance system heats up, policymakers must ensure that small banks and credit unions maintain equitable access to the secondary market.

The Senate Banking Committee will hold two hearings at the end of March on Chairman Mike Crapo’s most recent framework for housing finance reform.

In remarks to credit unions, the Senate Banking Committee Chairman said that fixing the government-sponsored enterprises and data security were priorities.

While the OCC has led the charge on modernizing the Community Reinvestment Act, Gov. Lael Brainard gave a rundown of new ideas under discussion — from updating assessment boundaries to a comprehensive community development test.

American Banker and National Mortgage News are offering an exclusive discussion of how policymakers may revamp Fannie Mae and Freddie Mac and what that will mean for mortgage lenders of all sizes.

The 2020 budget would add the Consumer Financial Protection Bureau and FSOC to congressional appropriations, charge lenders for FHA upgrades and require universities to have skin in the game on student loans.