Joseph Otting

Recounting her family’s financial struggles, Jelena McWilliams said regulatory policy should address the plight of the underbanked.

Comptroller of the Currency Joseph Otting and Federal Deposit Insurance Corp. Chairman Jelena McWilliams acknowledged industry concerns with the proposal meant to improve how banks comply with the trading ban.

American Banker and National Mortgage News are offering an exclusive discussion of how policymakers may revamp Fannie Mae and Freddie Mac and what that will mean for mortgage lenders of all sizes.

The Mortgage Bankers Association, National Association of Realtors and 26 other groups warned the agency not to pursue steps reducing the scope of Fannie Mae and Freddie Mac that could upset the mortgage market.

The new regulation, codifying requirements already in practice, is meant to help the mortgage giants prepare for the adoption of a uniform security in June.

The administration is sending conflicting signals on whether it has a plan to overhaul the housing finance system, further complicating an already complex debate.

Rep. Blaine Luetkemeyer, R-Mo., told the mortgage giants' chief federal regulator that the Financial Accounting Standards Board’s new model for estimating loan losses could pose risk across the mortgage market.

The Senate Banking Committee will examine the nomination of Mark Calabria to oversee the regulator of Fannie Mae and Freddie Mac, as well as nominees for the NCUA board and Treasury.

The comptroller of the currency also addressed, in his role as acting FHFA head, whether Congress or the Trump administration will spearhead GSE reform.

Recent developments give the impression that the administration and lawmakers are in direct competition, but the ultimate framework may rely on coordination from both branches of government.