Elon Musk’s call to “delete” the CFPB hasn’t found many takers. According to mortgage industry participants, the consumer watchdog has provided stability to the industry post the 2008 financial crisis.
A report by the non-partisan Congressional Budget Office concludes that Fannie Mae and Freddie Mac are more likely to hold successful public stock offerings now than when Trump first took office in 2020.
Legislation to limit trigger lead activity was removed from “must-pass” defense spending legislation. Still, mortgage industry participants are confident Congress will pass the trigger leads ban as soon as next year.
About 40 million households are making consistent monthly rent payments that are equal to or greater than the average monthly mortgage payment, according to one estimate.
A provision in the proposed rule that would limit sales of “credit header” information only to users who have a permissible purpose to obtain it would restrict the ability of lenders to advertise mortgage products.
Automatically increasing the caps for loans to be eligible for sale to the GSEs increases access to mortgage credit, but at the expense of increasing home prices.
While major rulemakings will pause until a new presidential administration takes over, work will continue on proposed rules, according to regulatory agency leaders.
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.
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