Lenders and servicers are likely to see some regulatory relief in the coming years though federal support for the housing market could also be reduced, according to officials at the Mortgage Bankers Association. The MBA’s Mortgage Action Alliance recently hosted a call with MBA officials providing projections for how the Trump administration and Republican control of Congress will impact the mortgage industry. “Things that were deemed impossible before the election are now in play,” said Meghan Sullivan, the MBA’s Senate Republican lobbyist. She said...
Steven Mnuchin, President-elect Donald Trump’s choice to be the next Treasury secretary, startled financial markets this week by indicating he would act quickly to bring Fannie Mae and Freddie Mac out of government conservatorship. “We’ve got to get Fannie and Freddie out of government ownership,” Mnuchin said during an interview with Fox News. “It makes no sense that these [two] are owned by the government and have been controlled by the government for as long as they have. In many cases, this displaces private lending in the mortgage markets, and we need these entities to be safe.” Mnuchin, a former Goldman Sachs executive who bought the failed IndyMac Bank and resurrected it as OneWest, continued...
The ABS market itself shrank slightly during the third quarter, according to data reported by the Securities Industry and Finance Markets Association...
In case you haven’t noticed: the national debt is ready to crack the $20 trillion mark – almost twice the dollar volume of outstanding residential debt in the United States.
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