FHFA under the leadership of Bill Pulte has rescinded, deleted or closed at least eight agency directives without providing notice on the agency’s website or announcing the changes in a press release.
The new FHFA director’s whirlwind first week resulted in widespread staffing cuts at the regulator and a dramatic change in leadership at the GSEs. So far, criticism has been muted.
Three Democrats joined Senate Republicans in a vote to make Bill Pulte, the grandson of the founder of homebuilding giant PulteGroup, the chief regulator of Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
Executives from Annaly and Two Harbors worry that ending the conservatorships of the GSEs could fundamentally change the buyer base for their mortgage-backed securities.
A 2021 SCOTUS decision made FHFA just another agency of the executive branch. That means Trump can meddle with any GSE policies and programs he chooses.
Senate Banking Committee members seek clarity over HUD Secretary Scott Turner’s statement that he would lead the process of ending the conservatorships of Fannie Mae and Freddie Mac.
Fair Isaac Corp. CEO William Lansing asserted that FICO is the best tool for assessing credit risk, and he doesn’t see that changing whether the government is more or less involved in the GSEs.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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