The mortgage insurance industry lost a key political ally with the reelection defeat of first-term Democratic incumbent Sen. Kay Hagan of North Carolina.
The FHFA has decided not to have a chairman for Common Securitization Solutions. Instead, the unit will be governed by a four-person "board of managers."
An administrative solution is already possible within the Housing and Economic Recovery Act of 2008, which grants the FHFA authority to bring the GSEs out of conservatorship.
Former FHFA Acting Director Edward DeMarco wanted to shrink the multifamily programs of Fannie and Freddie, but that initiative has been placed on the back burner.
Bill Pulte, nominee for FHFA director, and Jonathan McKernan, the nominee for CFPB director, detailed some of their plans.
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