Items Tagged with 'Trump Administration'

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  • Trump’s housing-finance plan aims to curb GSE lending in areas with rent control

    “This is the Trump administration against the blue states,” says Raymond James analyst
    Buckle your seatbelts, California. You may be in for another showdown with the Trump administration. One of the proposals buried in Treasury’s housing-finance plan was: curbing Fannie Mae and Freddie Mac multifamily lending in areas that adopt rent control. “The lesson I've had through observing the Trump administration is: They tell you in advance what they are going to do and they more often than not follow through,” a Raymond James analyst said.
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  • Trump administration's plan for Fannie Mae, Freddie Mac "survived" Senate hearing

    Treasury "sweep" may end by Sept 30, Cowen report says
    Treasury Secretary Steven Mnuchin told a Senate committee on Tuesday he wants to reach an agreement quickly with the regulator of Fannie Mae and Freddie Mac to allow the companies to keep their profits to rebuild capital – a first step in privatizing the nation’s largest sources of mortgage financing. Cowen Washington Research Group said that key part of the “recap and release” plan could happen by Sept. 30.
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  • Trump administration releases housing finance blueprint to privatize Fannie Mae, Freddie Mac

    Aims to encourage competition, reduce regulations
    The Trump administration released its long-awaited plan to reform the nation’s housing finance system and privatize Fannie Mae and Freddie Mac. The recommendations include: "simplifying" the Qualified Mortgage rule, eliminating the so-called QM patch that lets Fannie and Freddie sidestep some regulations, and reducing "unnecessary regulatory impediments" for private-label securitization.
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  • HUD floating proposal that would limit Fair Housing claims

    Rule changes would make it harder to prosecute lenders for housing discrimination
    The Department of Housing and Urban Development is floating a proposal that would make it harder to prosecute lenders for alleged incidents of housing discrimination under the Fair Housing Act. The updated guidelines revise the current loose, three-step threshold for Fair Housing violations and impose a specific, five-step approach that would require regulators to prove intentional discrimination on the lender’s behalf.
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  • Fannie Mae, Freddie Mac still in conservatorship in 2024? Calabria says it’s possible

    Tells Reuters that he hopes to have GSEs out of conservatorship by 2024
    Recent reporting by Bloomberg suggested that the Trump administration may be wavering on pursuing widespread reforms of Fannie Mae and Freddie Mac in advance of the 2020 election due to the potential economic impact of those reforms on voters. Now, Federal Housing Finance Agency Director Mark Calabria now says it’s possible that the GSEs may remain in conservatorship until 2024, at least.
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  • Former Freddie Mac CEO says GSEs should be regulated like utilities

    Layton says Fannie and Freddie were "lazy competitors" before government seizure
    Two weeks into his new gig as a senior fellow at Harvard University’s Joint Center for Housing Studies, Donald Layton, who was the CEO of Freddie Mac until the end of June, is speaking out – in favor of utility-style regulation of the GSEs. He also states the mortgage giants were “lazy competitors” before the 2008 government seizure.
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  • Trump administration reportedly souring on sweeping Fannie, Freddie reform prior to 2020 election

    Bloomberg: Trump admin is concerned about political fallout of GSE reform
    Despite momentum towards actually ending the conservatorship of Fannie Mae and Freddie Mac seemingly growing by the day, the Trump administration is reportedly concerned about the impact of widespread housing finance reform in advance of the 2020 election. And because of that concern, the administration may be considering holding off on significant reforms to the GSEs for at least another 18 months.
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  • WSJ: Trump administration set to release plan on Fannie, Freddie privatization

    Finalizing proposal that would improve GSEs' footing, then set them free
    The Treasury Department is preparing to release a plan detailing the privatization of Fannie Mae and Freddie Mac, inside sources told The Wall Street Journal Thursday. The plan is being finalized now and promotes a "recap and release" strategy that would put the GSEs on more solid footing and then release them from government control.
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  • Federal Savings Bank CEO indicted for approving Manafort mortgages in attempt to land top job in Trump administration

    Stephen Calk accused scheming with Paul Manafort in quid-pro-quo deal
    Stephen Calk, the CEO and founder of the Federal Savings Bank of Chicago, was indicted Thursday for approving $16 million in mortgage loans for Paul Manafort in exchange for the former Trump campaign chairman’s help in landing a senior post with the administration. The move was unsuccessful, in more ways than one. Click the headline for the full story.
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  • HUD inspector general investigating whether Trump administration slowed disaster aid to Puerto Rico

    Watchdog said it plans to report findings to Congress
    The Department of Housing and Urban Development Office of the Inspector General is looking into whether the White House interfered with aid approved for Puerto Rico as the island struggled to recover from 2017's Hurricane Maria. HUD-OIG attorney Jeremy Kirkland told members of the House Financial Services Committee on Tuesday that it will be meeting with congressional lawmakers to request a probe.
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