The Trump administration will likely take starkly different positions on housing and the mortgage market compared with the Biden administration. Expect changes at the GSEs, while a reduction to FHA mortgage insurance premiums looks unlikely.
If Calabria is tapped for the FHFA job again, more of the same can be expected: higher capital requirements, increased fees and a smaller GSE footprint.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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