FHFA joined the rest of the Biden administration in a government-wide effort to keep renters in their homes, but some stakeholders say one-size-fits-all solutions won’t work.
Consolidating FHFA’s authority to support fair housing and fair lending laws under the umbrella of the GSEs’ equitable housing finance plans will improve access to mortgage credit for underserved communities, supporters say. The GSEs, however, see key problems.
All House Republicans and 14 House Democrats voted to undo FHFA’s revision of GSE loan-level pricing adjustments. The bill would also require future changes to the grids to follow risk-based pricing.
Former FHFA Acting Director Ed DeMarco and the American Bankers Association have endorsed releasing the GSEs from conservatorship. Industry observers aren’t optimistic about any moves in the near term.
FHFA is expected to produce a long list of recommended actions to modernize the FHLBank system, but large-scale reform will probably require legislation.
Affordable housing advocates say Fannie Mae and Freddie Mac should do more to prevent investors from exploiting loopholes to profit off of LIHTC-funded properties.
The Federal Housing Finance Agency’s auditor concluded that the agency complied with an executive order making climate-related risk a priority for financial regulators.
The interagency task force on property appraisal and valuation equity has identified many steps Fannie Mae, Freddie Mac and the FHFA can take to reduce racial bias in the appraisal process.
The collapse of Champlain Towers South in Florida resulted in the GSEs issuing temporary guidelines tightening eligibility requirements for condo loans. Industry representatives have denounced the new rules as draconian.
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