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.
The government watchdog said federal agencies associated with housing finance have met three of five critical criteria for mitigating the risk they pose to taxpayers.
The annual increase in conforming loan limits creates a natural experiment for economists to examine how competition from nonbanks influences the operations of depositories.
CFPB Director-nominee Jonathan McKernan at his confirmation hearing promised to perform the statutory functions of the bureau. But he didn’t directly respond to the question of whether he agrees with President Trump’s statement that it’s important to “get rid of” the bureau.
The DOJ in a court filing accused the CFPB employee union of twisting a stop work order at the bureau as being part of a “coordinated campaign” by the Trump administration to eliminate the CFPB.
The bureau has so far dismissed lawsuits against Capital One, Heights Finance, Rocket Homes, Pennsylvania Higher Education Assistance Agency and Vanderbilt Mortgage and Finance.
Senate Democrats are seeking answers from Elon Musk, head of the Department of Government Efficiency, and CFPB Acting Director Russell Vought regarding potential financial conflicts.
Financial entities who fail to comply with the Home Mortgage Disclosure Act’s requirements are at risk of enforcement actions by a future Democratic administration or at the state level.
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