In a remarkable political balancing act during his confirmation hearing Thursday morning, Mark Calabria, President Trump’s nominee to head the Federal Housing Finance Agency, told Senate Banking Committee members they need not worry about his history of controversial and inflammatory remarks on FHFA and the government-sponsored enterprises.
Sen. Mike Crapo, R-ID, chair of the Senate Committee on Banking, Housing, and Urban Affairs, stirred the housing-finance reform pot last week, releasing a plan to bring Fannie Mae and Freddie Mac out of conservatorship.
In a bid to expand its access to rental housing credit, Redwood Trust last week announced plans to partner on a deal to acquire up to $1 billion in whole loans from Freddie Mac.
A new outline on housing-finance reform from Sen. Mike Crapo, R-ID, hands over management of the conventional mortgage market to Ginnie Mae, begging the question: Is Ginnie up to the task?
Mark Calabria, President Trump’s nominee to lead the Federal Housing Finance Agency, may be looking at a prolonged confirmation process in the Senate, according to industry observers.