The Senate voted 55-44 to confirm Scott Turner as housing secretary, paving the way for the Trump administration to install new leadership at FHA and Ginnie Mae.
The pause was ultimately rescinded following court injunctions. In the meantime, participants in government-insured mortgage programs faced uncertainty.
VA is considering a rule that would require lenders to use a new application program interface to report loan information and remit funding fees to the agency. It also plans to rewrite rules regarding when VA would assert a defense for a partial or total loss of a guarantee.
GAO called for Ginnie Mae to develop processes for participating in interagency exercises, noting that FHFA did a better job than Ginnie in an FSOC effort aimed at addressing the likely failure of a major nonbank mortgage company.
VA sets return-to-office requirements for employees; Indecomm adds FHA underwriting; RHS interest rates increase; number of downpayment assistance programs grows.
Housing Secretary nominee Scott Turner offered few specifics during his confirmation hearing last week. But he outlined plans to review agency programs and maximize their budgets.
With a new federal administration in charge, the MBA renewed its calls for reductions to FHA premiums. However, the Trump administration is unlikely to cut premiums.
The new policies were established days before the end of the Biden administration and won’t take effect until February 2026. The policies won praise from industry trade groups.
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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