The consumer groups raised various legal arguments about the final rule, including that it was issued in violation of various laws that set requirements for the rulemaking process.

The re-proposal would improve banks’ return on capital, said John Sim, a managing director at JPMorgan Chase.

“There’s still work to be done and we are committed to continuing to work with the White House and our colleagues in the House on a housing bill that can pass the Senate and get to the president’s desk,” said Sens. Tim Scott, R-SC, and Elizabeth Warren, D-MA.

Dave Paulson, CEO of the FHLB of Pittsburgh, pointed out that, prior to the 2023 banking crisis, many FHLBank officials didn’t know who their direct contact was at the Fed.

FHA noted that federal law prohibits providing federal financial assistance to individuals with delinquent child support.

The House is set to vote on a revised version of the 21st Century ROAD to Housing Act. It’s expected to pass with broad bipartisan support.

FHA expects to rescind a suite of policies next month as a continuation of its deregulatory approach to tackling affordability, said FHA Deputy Assistant Secretary for Single-Family Housing Matt Jones.

“Regulators are taking more notice of this part of the market,” Bob Broeksmit, president and CEO of the Mortgage Bankers Association, said of the non-agency sector.

Bob Broeksmit, president and CEO of the Mortgage Bankers Association, is optimistic about Kevin Warsh’s appointment to lead the Fed.

A recent survey found that 89% of voters want the House and Senate to work together to pass legislation that will make housing more affordable.