Ed DeMarco on the future of housing regulation
This week, Housing Policy Council President and former Federal Housing Finance Agency Interim Director Ed DeMarco joins the Housing News Podcast to discuss the future of housing regulation, as well as what the November presidential election could mean for the housing market.
In this episode, DeMarco discusses what lies ahead for the economy and the housing market once the forbearance period, which was implemented by the CARES Act and gave mortgage borrowers who were financially struggling the right to suspended payments without penalties for up to 12 months, comes to an end.
During the interview, DeMarco also addresses the unique challenges facing the FHFA as the agency continues to navigate COVID-19’s impact on the overall industry.
According to him, the FHFA will need to balance the uncertainties arising from both the pandemic and the policies that have been enacted to protect lenders and homeowners.
“FHFA has got an interesting challenge,” DeMarco said. “They have to balance the uncertainties arising from the pandemic and all of the many steps that have been taken in response to the pandemic, with the longer-term goals that Director Calabria has been quite clear about in regard to wanting to end the conservatorships.”
“That’s an interesting and difficult balance they have right now,” he said. “I expect this is out of the minds of the director and his staff, but of course, many other folks are awaiting the election to see what it all means.”
The Housing News Podcast is a weekly wrap of the top news stories by HousingWire Editor in Chief Sarah Wheeler. Each week, HousingWire interviews financial services experts who can help make sense of the latest headlines, sponsored by our partners at Freddie Mac.
Here are links to the topics discussed:
- An end to Fannie, Freddie conservatorship by 2022?
- FHFA moves closer to ending conservatorship, issues new rule on allowing Fannie Mae, Freddie Mac to build capital
- Fannie Mae and Freddie Mac announce underwriting advisers
- Lawmakers ask Calabria to rethink adverse-market fee
- Calabria does not expect widespread delinquencies due to coronavirus