Trump administration

The Federal Housing Finance Agency is seeking comment on a proposal that could pave the way for potential Fannie Mae and Freddie Mac competitors to use the uniform mortgage-backed security structure.

A lower court “erred” when it sided with Fannie Mae and Freddie Mac’s investors, the Justice Department said in its petition to the high court.

When it comes to possible new competitors in the secondary market, the heads of the two current outlets more than welcomed the possibility of additional players in their space because of housing finance reform.

The government has used the law to bring fraud claims against Federal Housing Administration lenders, but the new steps respond to criticism that minor offenders were also getting punished.

Will the justices go further than answering constitutional questions about the bureau's leadership structure?

The high court will decide how much latitude a president has to fire the director of an independent agency.

A list of upcoming cases published by the high court did not include a challenge to the bureau's constitutionality, but the justices could still decide to review it at a later date.

Maren Kasper, who has led Ginnie Mae in the absence of a permanent president, is leaving the agency on Oct. 18 to pursue an opportunity in the private sector.

Institutions that offer fewer than 500 open-end lines of credit will get another two-year exemption from reporting requirements under the Home Mortgage Disclosure Act.

The two Democrats waded into a court battle over the president's ability to fire a director of the Consumer Financial Protection Bureau.