9.16.20
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.” Director Calabria’s submitted and oral testimony provided a comprehensive overview of the FHFA’s actions during the COVID-19 pandemic. Director Calabria was questioned on the FHFA’s market refinance fee, and several Members, including Reps. Blaine Luetkemeyer (R-MO), Bill Huizenga (R-MI), Steve Stivers (R-OH), and Barry Loudermilk (R-GA), voiced significant concerns about the re-proposed Enterprise Capital Rule’s impact on Capital Risk Transfer (CRT). The focus on CRT piggybacks a September 11 letter led by Rep. Luetkemeyer and twenty one other Republican members from the HFSC urging FHFA to pay close attention to the provisions of the rule impacting the CRT program at the GSEs.
Click here to read the Summary of the hearing.