Federal Housing Finance Director Mel Watt this week expressed strong reluctance to allow Fannie Mae and Freddie Mac to be forced to take another draw on their Treasury line of credit. “FHFA has explicit statutory obligations to ensure that each enterprise ‘operates in a safe and sound manner’ and fosters ‘liquid, efficient, competitive and resilient national housing finance markets,’” Watt testified in a hearing at the Senate Banking, Housing and Urban Development Committee. “To ensure that we meet these obligations, we cannot risk...
The Trump administration’s tax-reform plan could boost home sales somewhat, though the National Association of Realtors and National Association of Home Builders have raised significant concerns about the treatment of deductions. At the end of April, the Trump administration released a one-page outline for reforming federal taxes. It calls for doubling the standard deduction to $24,000, maintaining the mortgage interest deduction and repealing the deduction for state and local taxes. William Brown, president of NAR, said the plan would effectively eliminate...
During his long career in mortgage finance, Marzol held senior posts at Fannie Mae where he served as executive vice president and chief credit officer...
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