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.

About the Author

Most Popular Articles

Housing market flashing recession signal

The housing market is signaling there will be an economic recession by the 2020 election, according to Benn Steil, director of international economics at the Council on Foreign Relations.

Oct 11, 2019 By

Latest Articles

Foreclosure activity drops to lowest level since 2005

Foreclosure activity sank in the third quarter of 2019, dropping to the lowest level in nearly 15 years, according to the latest report from ATTOM Data Solutions. Foreclosure activity in the third quarter fell 19% from a year ago to the lowest level since the second quarter of 2005, a 13-year low.

Oct 16, 2019 By