She’s not a brain surgeon, but a Democratic legislator from the Rust Belt. Midweek, Joe Biden revealed Rep. Marcia Fudge as his pick for Housing secretary.
House Financial Services Committee Chair Maxine Waters, D-CA, wants various rules and regulations introduced during Trump’s presidency to be rescinded or replaced.
In testimony before lawmakers, both Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell stressed that time and care is needed to raise capital before the GSEs exit conservatorship.
Regulatory reforms initiated after the 2008 financial crisis seemed to work as intended during the COVID-19 downturn, according to participants at the ABS East conference.
FHFA Director Mark Calabria and Treasury Secretary Steven Mnuchin seem to have different motives to take the GSEs out of conservatorship. However: Will they be able to reach an agreement soon?
Industry watchers said a blue wave would stall GSEs’ recapitalization and exit from conservatorship and likely send FHFA Director Mark Calabria packing.
The MBA said a permanent, paid-for government backstop for agency mortgage-backed securities would be the ideal way to ensure a deep, liquid secondary mortgage market.
If the Senate doesn’t act quickly to extend the National Flood Insurance Program, the Federal Emergency Management Agency’s authority to provide new flood insurance contracts will lapse at the end of the month.
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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