The agency heads at the FDIC, OCC and Federal Reserve said they don't foresee any major rulemakings moving forward before the next administration takes over.
Old industry hands like Mike Calhoun of CRL and former FHFA acting Director Ed Demarco say getting the GSEs out of conservatorship might be more complicated than the Trump administration believes.
In the final weeks before the new Republican administration takes over, the CFPB’s rulemaking process is expected to slow, but enforcement activity could increase, according to industry attorneys.
Among the changes expected in Trump 2.0, a new bureau director, and a focus on technical requirements of statutes and regulations and less aggressive statutory and regulatory interpretations.
Mortgage industry stakeholders speculate about who Trump will nominate to oversee Fannie Mae and Freddie Mac and determine whether they remain in conservatorship or are re-privatized.
FHFA and CFPB insiders expect the new administration to make quick changes in agency leadership, a process made easier by Republicans gaining control of the Senate.
A panel of mortgage industry veterans concluded that the best scenario MBS investors can hope for in the upcoming election is that neither side wins a clean sweep of the presidency and Congress.
The former president has proposed banning mortgages for undocumented immigrants if elected to a second term. At this point, the loans are largely only available in the non-agency market.
Although a Republican victory in November might revive efforts to release the GSEs from conservatorship, this would likely be a multi-year effort, according to the former FHFA director.