Affordable housing

David Brickman will take the helm of the mortgage giant at a time of transformation in the mortgage market and housing finance policy.

Mark Calabria has notably criticized the government’s role in housing, but some groups have taken him at his word when he told senators that he supported affordable housing initiatives.

There’s bipartisan consensus that the conservatorships of Fannie Mae and Freddie Mac are unsustainable, but that may not be enough for lawmakers to upend the current system.

Revised legislation would exclude credit unions from Community Reinvestment Act requirements, but could make the National Credit Union Administration the de facto enforcer of how CUs meet the needs of underserved markets.

The 2020 presidential hopeful removed the contentious provision from a previous version of the bill that had won praise from bankers but sparked fierce opposition from credit unions.

The secretary of housing and urban development plans to "finish out this term" but wants to return to "the private sector because I think you have just as much influence, maybe more."

If confirmed to lead the Federal Housing Finance Agency, Mark Calabria would have a central role in any efforts to reform the government-sponsored enterprises Fannie Mae and Freddie Mac

The agency's pilot program, designed to streamline mortgage insurance applications associated with the Low-Income Housing Tax Credit program, will now include applications for new construction and substantial rehabilitation.

The government-sponsored enterprises are going through a transition period. From proposals for rebuilding their capital cushions to tackling shortages in affordable housing, Fannie Mae and Freddie Mac face a number of key challenges with wide-ranging consequences this year.

The administration’s choice to regulate the government-sponsored enterprises appeared to distance himself from speculation that the White House may try to overhaul housing finance without legislation.