Items Tagged with 'Steven Mnuchin'

ARTICLES

  • Calabria: Fannie Mae and Freddie Mac won’t privatize until 2020’s end or later

    FHFA director comments in Bloomberg TV interview
    The federal regulator for Fannie Mae and Freddie Mac said the nation’s largest mortgage financiers won’t be privatized until the end of 2020 at the earliest. “It really depends on how quickly they raise capital,” said Federal Housing Finance Agency Director Mark Calabria in a Tuesday interview on Bloomberg TV.
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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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  • Wall Street insider Craig Phillips leaves Treasury without Fannie, Freddie reform

    Phillips was “one of the few senior folks at Treasury with clout” to negotiate on GSEs
    Craig Phillips, Treasury Secretary Steven Mnuchin’s top housing advisor and the point person for reform of Fannie Mae and Freddie Mac, has left his position before achieving any major changes at the mortgage giants. “Mnuchin simply lacks the time and energy needed to advance a housing finance reform plan,” Jaret Seiberg, Managing Director at Cowen Group, said in a note to clients.
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  • Cowen's Seiberg says concern about Mnuchin's GSE comment is overblown

    "There has been much teeth-gnashing this week," Seiberg says
    Treasury Secretary Steven Mnuchin started last week having dinner with the Queen of England as part of the entourage accompanying President Donald Trump to Buckingham Palace. A few days later, he made financial news by throwing cold water on plans to reform Fannie Mae and Freddie Mac. "There has been much teeth-gnashing this week after Treasury Secretary Steve Mnuchin said GSE reform cannot simply return Fannie and Freddie to their pre-conservatorship state," said Jaret Seiberg, Cowen’s managing director.
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  • Housing industry responds to Trump's calls for housing finance reform

    Groups applaud president's official step toward instigating long-awaited change
    On Wednesday, President Donald Trump signed a memorandum calling for an end of the conservatorship of Fannie Mae and Freddie Mac. The memorandum details programs and objectives that the government agencies are asked to analyze for reform, but it doesn't provide many other specifics. Absent concrete details for change, most groups in the housing space applauded the president's move as an necessary step toward instigating much-needed change.
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  • Mnuchin: GSE reform isn’t happening in 2018

    But still plans to take Fannie, Freddie out of conservatorship
    Back in September, during a Politico Policy Summit in Washington, U.S. Department of the Treasury Secretary Steven Mnuchin said GSE reform would be addressed in 2018. For all of you nay-sayers who said it wouldn’t happen – a new interview with the secretary shows you were probably right.
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