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.
The former Freddie executive said eliminating mortgage servicing rights, or transferring them to the GSEs, would eliminate the need for nonbank mortgage servicers to make servicing advances on delinquent loans.
President-Elect Donald Trump is expected to replace Rohit Chopra as CFPB director. It’s not yet clear how the Trump administration plans to handle mortgage-related efforts in progress at the CFPB.
The cost of a credit score for originations is set to increase by 41% in January. The plan prompted trade groups representing lenders to renew calls for regulators and Congress to address pricing practices for credit reporting products.
Ginnie Mae wants to give a capital break to servicers that hedge their positions and do it well. But the government guarantor might make some changes to the language first published last week.
The Trump administration and Republican leadership in both houses of Congress will likely lead to the reversal of many Biden-era fair lending and equitable finance rules and guidelines, but affordable housing is still a bipartisan issue.
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.
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