There was more than the usual amount of drama around appointing the new FHFA leader,Sandra Thompson, a few weeks ago. A years-long battle over the constitutionality of the agency's leadership structure went all the way to the Supreme Court, where the justicesdecided that yes indeed, a president could fire the FHFA director at will.
To no one's surprise, Biden was eager to replace the Trump-appointed FHFA Director, Mark Calabria, with Thompson. (Whether Biden fired Calabria before he quit, or Calabria quit before he was fired is murky).
Today, Senior Mortgage Reporter Georgia Kromrei reports on what the mortgage industry wants from the FHFA under Thompson, versus what it might get. Some items on the industry's wishlist:
Getting rid of the adverse market refinance fee
Removing the volume cap on investment purchases
Reconsidering the GSEs' capital framework, which would affect credit risk transfer issuance
One issue at the top of Biden's agenda that is clearly a priority for Thompson is greater housing equity. As Kromrei notes in the story: "It is not clear how she plans to accomplish that goal, but FHFA is well-positioned to expand credit availability at a national scale."
The article also looks at where conservatorship stands under Thompson's leadership. Read all about thathere.
Until tomorrow —
Sarah Wheeler
HousingWire Editor in Chief
P.S. This week we launched apodcast miniseries featuring winners of ourWomen of Influence award, with the first episode featuring Laura Grannemann, VP of strategic investments at Rocket. Grannemann won last year for her work establishing the philanthropic arm of the Rock family of companies when she was just 24. It's a don't-miss episode!
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