Rep. Maxine Waters, the ranking minority member of the House Financial Services Committee, believes that now is "precisely the time to think about how we can reshape the secondary mortgage market."
It appears that well known economist Mark Zandi is indeed a candidate to head the Federal Housing Finance Agency. But will the White House actually nominate him?
Wells Fargo and JPMorgan Chase continue to post strong residential finance profits, but there is a growing worry that the "mortgage party" may be drawing to a close.
The unrelenting campaign by liberal Democrats and progressive activists to depose the Federal Housing Finance Agencys acting director could backfire by making him politically untouchable, while the badgering directed at the Obama administration threatens to alienate the very man they seek to convince to act in their favor, according to industry observers. According to a memo released late this week that was prepared by New York Attorney General Eric Schneidermans legal team, President Obama has the power to replace FHFA Acting Director Edward DeMarco without congressional approval. We conclude that the president has the authority to remove the acting director at will, and there is a strong argument that he has the authority to designate a new acting director, although the answer to that question is less certain, noted Schneidermans memo.