Republicans, who have long opposed the bi-merge credit scoring model, now control Congress. That, combined with Trump’s “regulatory freeze,” could spell the end of this part of credit report reform.
WaFd Bank is ending its mortgage origination activity; TD Bank is considering selling jumbo mortgages; some banks are still increasing their mortgage business; President Trump issues order on housing, freezes regulatory efforts.
Affordable housing advocates say ending the GSE conservatorships administratively won’t relieve the enterprises from the mission-related responsibilities included in their charters and HERA.
Bank regulators run by Trump-appointed leaders could move to issue a revised proposal on capital requirements for large banks, according to FDIC Vice Chairman Travis Hill.
Lenders are concerned that the incoming Trump administration might reinstate limits on GSE acquisitions, repeating an action from the first Trump administration.
Michael Barr to step down as Fed vice chair for supervision; fifteen states and the National Association of Home Builders sue HUD over energy-efficiency requirements; Ally to exit origination business.
The regulator estimates that the move will prompt a jump in mortgage originations. The rule is largely unchanged from an earlier proposal despite concerns raised by mortgage companies.
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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