Items Tagged with 'GSE reform'

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It's official: Steven Mnuchin sworn in as Treasury Secretary

Senate approves former OneWest exec for cabinet post in largely partisan vote
Despite all the bluster, attempted parliamentary maneuvering, and name-calling from the Democratic party, the Senate voted Monday evening to approve Steven Mnuchin to serve as the next Secretary of the Department of the Treasury. As expected, the Senate approved Mnuchin in a partisan vote of 53-47, with one Democrat, Sen. Joe Manchin, D-West Virginia, splitting from his party and voting with the Republican majority.
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Mark Calabria to serve as chief economist for Vice President Mike Pence

Long-time housing reform advocate joins Pence's staff
Mark Calabria, a long-time housing reform advocate, will serve as the chief economist to Vice President Mike Pence. In his role within Pence’s office, Calabria could play a big role and be a sizable voice for housing finance reform, which he has spoken about frequently in his career.
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Fed's Bullard says GSE reform could lead Fed to dump Fannie, Freddie holdings

Federal Reserve Bank of St. Louis president on future of housing
While it's clear the Trump administration plans to move on GSE reform, what isn’t known yet is just what those plans will look like. Further, what impact will those plans put on the country’s financial system? One area where the Trump administration’s GSE plans could reverberate is on the Federal Reserve and its mortgage bond holdings.
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Fitch: Trump tax cuts could force another Fannie Mae, Freddie Mac bailout

Corporate tax rate cut could lead to additional Treasury draw
Speaking before a meeting with airline executives, President Donald Trump said Thursday that his administration plans to unveil a tax reform plan in the coming weeks, with changes to corporate and personal taxes likely on the agenda. While those changes would likely be well received by corporate America, a new report from Fitch Ratings suggests that cutting corporate tax rates by as much as the president suggested could lead to Fannie Mae and Freddie Mac needing another bailout from the government.
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Mortgage-backed security market to make a comeback in 2017

Higher interest rates facilitate return of securitization economics
While the housing market slowly recovered after the recession, the residential mortgage-backed security market did not. There were several reasons for the stagnation, including the market dominance from the GSEs. However, the RMBS market is preparing to make a comeback in 2017.
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Gary Cohn: Fannie Mae, Freddie Mac reform will be high on Mnuchin's agenda

Maybe GSE reform will happen quickly after all?
Despite Fitch Ratings’ analysts suggesting recently that reforming Fannie Mae and Freddie Mac may be slowed by the Trump administration’s other legislative efforts, one of President Trump’s top economic advisors said Friday that Fannie and Freddie reform will be high on Steve Mnuchin’s agenda once he is confirmed as Secretary of the Department of the Treasury.
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Fitch: Fannie Mae, Freddie Mac reform may be put on back-burner

Complexity of issue, differing interests may further delay GSE reform
While the Democrats in the Senate fight the confirmation of Steve Mnuchin, the Trump administration’s choice to lead the Department of the Treasury, the fate of Fannie Mae and Freddie Mac continues to reside in suspended animation. But how much longer will the government-sponsored enterprises float in the conservatorship ether? According to a new report from Fitch Ratings, those waiting for comprehensive GSE reform may have to wait a little longer.
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Step one: MBA reveals proposal to reform Fannie Mae and Freddie Mac

The beginning principles and guardrails to guidance
Talks around reforming Fannie Mae and Freddie Mac are only growing stronger as the nation transitions to a Republican administration. As the association representing the housing finance industry, the Mortgage Bankers Association released its initial plans for its recommended approach for GSE reform. The team behind the plans is made up of some of the top lenders in the industry.
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Trump’s Mortgage Nation – an inside look at HousingWire’s webinar

Experts answer questions about the future of housing
Will Trump repeal Dodd-Frank? Does Cordray have a future at the CFPB? Is GSE reform on the way? Experts from the housing industry answered these questions and more in HousingWire’s webinar, Trump’s Mortgage Nation. Didn’t have time to watch the whole thing? We have you covered. Here are the cherries from the webinar, plus how to still watch it in full.
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Fannie Mae, Freddie Mac stock hangs in the balance after Mnuchin privatization talks

The easy and difficult road ahead for Mnuchin
The highs Fannie Mae’s and Freddie Mac’s stocks experienced toward the end last year didn’t stay long. After Trump’s Treasury Secretary nominee Steven Mnuchin retreated from his original stance on privatizing the government-sponsored entities during his confirmation hearing, both GSEs’ stock tumbled as their future got called into question.
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