On September 16, Federal Housing Finance Agency (FHFA) Director, Dr. Mark Calabria, appeared before the full House Financial Services Committee (HFSC) in a hearing titled "Prioritizing Fannie's and Freddie's Capital over America's Homeowners and Renters? A Review of the Federal Housing Finance Agency's Response to the COVID-19 Pandemic."
This Wednesday, September 16, the Federal Reserve (Fed) signaled during their Federal Open Market Committee (FOMC) meeting that interest rates will be kept between 0 – 0.25%, with some FOMC members indicating that rates could stay anchored near zero through 2023.
As economic growth continues to move at a slow pace, some Federal Reserve (Fed) officials are publicly calling for Congress to pass measures that would increase spending on several COVID-related relief programs.
On September 8, 2020 SFA responded to the CFPB’s NPRM on the General QM definition in which SFA laid out a proposal for an industry Self-Regulating Organization (SRO) and explained how the SRO can allow for innovation while establishing and maintaining safeguards for borrowers and investors.
The recent proposal by the Federal Housing Finance Agency (FHFA) to increase GSE capital levels by more than five times could lead to an uptick in housing prices according to several mortgage industry members and the GSEs themselves.