Testifying before the Senate Banking Committee today, Treasury Secretary Steven Mnuchin said he is hoping to collaborate with senators on financial regulatory relief and housing finance reform.
Housing and Urban Development Secretary Ben Carson signaled today that the administration may revisit an Obama-era policy on Property Assessed Clean Energy, or PACE, loans, a controversial financial product that allows homeowners to pay for energy-efficient retrofitting — such as solar panels and high-efficiency air conditioners — through their property tax assessments.
At a hearing before the Senate Banking Committee today, FHFA Director Mel Watt highlighted the need for housing finance reform, noting that Congress must decide the future of Fannie Mae and Freddie Mac, including whether or not the enterprises should receive backing from the federal government.
Fannie Mae today reported a $2.8 billion profit for the first quarter, following earnings of $4.85 billion in the previous quarter.
Freddie Mac posted net income of $2.2 billion in the first quarter of 2017, reversing a loss from the first quarter of 2016.
The FDIC today released the third installment of its guide to affordable single-family home loan programs, which collects information about programs to expand access to affordable mortgage credit, including programs targeted in rural and low- and moderate-income communities and to Native Americans and veterans.
Testifying on behalf of ABA today at a hearing before the House Agriculture Committee’s Commodity Exchanges, Energy and Credit Subcommittee, banker Nate Franzen outlined several changes ABA is seeking in the upcoming Farm Bill.
The Federal Housing Finance Agency today released a progress report on its goals for Fannie Mae and Freddie Mac while the GSEs are in federal conservatorship.
Since the Federal Housing Finance Agency launched a credit risk transfer program for GSEs Fannie Mae and Freddie Mac in 2013, the enterprises have transferred $49 billion in credit risk to private investors, amounting to about 3.4 percent of $1.4 trillion in unpaid principal balance.