CFPB enforcement head resigns, citing ‘no intention to enforce the law’
Cara Petersen, the acting CFPB enforcement director, has resigned, citing a lack of intention to “enforce the law in any meaningful way.”
Regulatory
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White House expects reverse mortgages to continue producing government receipts
The White House expects continued performance from the HECM portion of the MMI Fund, according to a recent budget document.
HUD walks back prior default guidance as too ‘burdensome’ for mortgage servicers
A new mortgagee letter said that some of the Biden administration’s final servicing guidance was too “burdensome,” resulting in changes.
Mat Ishbia: GSEs acting ‘private’ in conservatorship could be best of both worlds
Mat Ishbia, president and CEO of United Wholesale Mortgage, is confident that if ending the conservatorship results in higher rates, it’s unlikely the government will move forward with it.
Updated list of Bill Pulte’s actions that impact FHFA, GSEs
Here is a list of Bill Pulte’s actions at the FHFA or the GSEs since he was announced as President Trump’s nominee and took office in March.
HUD OIG reveals ongoing reverse mortgage oversight priority
The HUD OIG report details some reverse mortgage highlights, including an ongoing oversight priority and a recent conviction.
Federal Court blocks Trump’s ‘Liberation Day’ tariffs
A three-judge panel issued the decision Wednesday, siding with plaintiffs who argued that Trump’s use of tariffs violated U.S. law.
Will an implicit guarantee keep mortgage rates from rising after release of GSEs?
Will mortgage rates rise if the government releases the GSEs from conservatorship? It depends on whether there is a government guarantee.
Trump: I’m taking Fannie and Freddie ‘public’ with implicit guarantee
President Trump said he is working on taking Fannie Mae and Freddie Mac public and the implicit guarantee would remain.
Trump’s GSE exit pursuit is complicated (and could be costly)
Removing the government-sponsored enterprises (GSEs) from conservatorship after 16-plus years would be a complicated endeavor. And if they’re not removed carefully, costs for borrowers could spike.