Trump administration

The administration’s choice to regulate the government-sponsored enterprises appeared to distance himself from speculation that the White House may try to overhaul housing finance without legislation.

Industry observers will be closely monitoring Mark Calabria's testimony before the Senate Banking Committee on Thursday for hints about how the Trump administration plans to proceed on mortgage finance reform.

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.

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.

Recent developments give the impression that the administration and lawmakers are in direct competition, but the ultimate framework may rely on coordination from both branches of government.

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.

The Federal Housing Finance Agency has appointed a special assistant to President Trump and former Trump campaign official as chief of staff of the agency.

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.

The hiring of a former GOP congressional aide suggests the bureau will continue to rely on political appointees in senior positions.

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.