Mortgage

Trump to sign memorandum on housing finance reform

Expected to direct HUD and Treasury to draft reports on GSE reform

President Donald Trump is expected to sign a memorandum on housing finance reform Wednesday, Reuters reported.

According a White House official, Trump will direct the Department of Housing and Urban Development and the Treasury Department to compile reports on the reform of government-sponsored enterprises Fannie Mae and Freddie Mac.

Trump’s anticipated move will be made on the second day of Senate Banking Committee hearings on GSE reform.

Earlier in the year, the White House – which has been a vocal proponent of taking Fannie and Freddie out of conservatorship – said it was working on a framework for an overhaul of the current housing finance system, but has not issued any progress on that front.

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