Three former CEOs of the GSEs this week debated the impact of federal conservatorship, what steps must be taken to safely end the oversight and what the GSEs should look like afterwards.
During a confirmation hearing last week, Trump’s nominee to head FHFA was noncommittal in response to questions about GSE reform, a hint that the administration has other priorities.
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.
FHFA must turn conservatorship directives into regulations before releasing the GSEs from conservatorship, according to former agency director Mark Calabria. But an explicit guarantee is unnecessary, he said.
Responding to written questions from the Senate Banking Committee, Trump’s new Treasury secretary gave the mortgage industry limited insight into his views on GSE reform.