Trump’s nominee to head FHFA didn’t do anything to embarrass himself at his confirmation hearing this week, but he also didn’t demonstrate a deep understanding of housing finance.
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.
The Trump administration’s failure to name acting directors for key federal agencies leaves them either under the control of Biden appointees or without a presidentially appointed leader.
Bill Pulte, Trump’s choice to run the FHFA, is a scion of a homebuilding industry giant, but his background is mostly in private equity and philanthropy.
Given the financial and political hurdles that stand in the way of releasing Fannie Mae and Freddie Mac from conservatorship, it may be only a second- or third-tier issue for the Trump administration.
Issuance of Ginnie Mae mortgage-backed securities with refinance loans increased sharply for the third straight month in October. However, the refi business appears poised to slow as interest rates on mortgages increased through October. (Includes two data tables.)
In some parts of the country, the giant home builder shelled out incentives of as much as $81,700 per home delivered, most of that in the form of interest rate buydowns.
The new Federal Advisory Committee on Affordable, Equitable and Sustainable Housing includes a who’s who of housing finance experts, equitable housing advocates and industry representatives.