News & Analysis as of

Fair Housing Finance Agency

Ballard Spahr LLP

HUD seeking information about impact Buy Now, Pay Later has on housing expenses

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The Department of Housing and Development is seeking information about the impact that the frequent use of Buy Now, Pay Later (BNPL) products may have on borrowers’ ability to meet housing-related expenses, including rent or...more

Sheppard Mullin Richter & Hampton LLP

FHFA Orders Fannie Mae and Freddie Mac to Consider Cryptocurrency Reserves in Mortgage Risk Assessments

On June 25, the Federal Housing Finance Agency (FHFA) issued a directive ordering Fannie Mae and Freddie Mac to prepare proposals for treating cryptocurrency held on U.S.-regulated exchanges as assets for reserves in...more

Paul Hastings LLP

Crypto Policy Heats Up Ahead of July 4

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Crypto policy continues to be a hot topic in the nation’s Capitol ahead of the July 4 holiday. Senate Banking Committee Chairman Tim Scott (R-SC) and Digital Assets Subcommittee Chair Cynthia Lummis (R-WY) announced that the...more

Alston & Bird

FHFA Director Directs Fannie and Freddie to Consider Crypto Assets to Qualify for Mortgages

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What Happened? On June 26, Federal Housing Finance Agency (“FHFA”) Director William Pulte told Fannie Mae and Freddie Mac (the “government sponsored entities”) to draft policies that would consider a borrower’s cryptocurrency...more

Goodwin

The Evolving Landscape of AI Regulation in Financial Services

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Artificial intelligence (AI) is increasingly woven into financial services operations, transforming everything from consumer interactions through chatbots and targeted marketing to essential functions like underwriting,...more

Harris Beach Murtha PLLC

Potential Impacts of the Privatization of Fannie Mae and Freddie Mac

Fannie Mae (1938) and Freddie Mac (1970) were created with the end goal of promoting homeownership across the United States. Fannie Mae and Freddie Mac, both government-sponsored entities (“GSEs”), are publicly traded and...more

Orrick, Herrington & Sutcliffe LLP

Senators urge FHFA inspector general to investigate Director Pulte

On April 16, three senators urged the FHFA Inspector General to investigate the agency’s purported noncompliance with federal laws and regulations concerning corporate governance at Fannie Mae and Freddie Mac. Sens. Jack Reed...more

Crunched Credit

How Do You Solve A Problem Like Billy Polte’s (with apologies to Oscar Hammerstein…I Just Couldn’t Make It Rhyme)

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Mr. Pulte is now the great poohbah of Fannie and Freddie supervising the Twins from his seat at FHFA and also now acting as chair of their respective boards. What is he going to do (assuming he has any agency here)?...more

Troutman Pepper Locke

Fair Lending Shake-Ups: CFPB Vacates Townstone Settlement, FHFA Ends GSEs' Special Purpose Credit Programs — The Consumer Finance...

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In this episode of The Consumer Finance Podcast, Chris Willis is joined by Troutman Pepper Locke colleagues Lori Sommerfield and Lane Page to dissect two unexpected fair lending developments under the new Trump...more

Bradley Arant Boult Cummings LLP

FHFA Has Fraud on Its Mind

In recent days, Federal Housing Finance Agency (FHFA) Director Bill Pulte has made it clear that he believes fraud is a rampant problem at FHFA. In a stream of related activities, Pulte has called on the public to report...more

Orrick, Herrington & Sutcliffe LLP

Senators request investigation into FHFA board overhaul and workforce reductions

On April 15, ten U.S. Senators sent a letter addressed to Mr. Brian M. Tomney, Inspector General of the FHFA, requesting that the FHFA OIG review recent actions taken by FHFA leadership to overhaul the boards at Fannie Mae...more

Ballard Spahr LLP

Multifamily April Alert

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This month’s Alert updates recent housing legislation, including proposed amendments to the DC Tenant Opportunity to Purchase Act (TOPA), the launch of the DC RentRegistry portal, and updates to Montgomery County's rent...more

Orrick, Herrington & Sutcliffe LLP

FHFA reportedly ends program for down payment and closing cost assistance

On March 25, it was reported on social media that FHFA Director William Pulte signed an order terminating the Special Purpose Credit Programs (SPCPs) previously covered by Fannie Mae and Freddie Mac. The SPCPs provided...more

Sheppard Mullin Richter & Hampton LLP

FHFA Rescinds UDAP Oversight Bulletin and SPCP-Based Renter Protections

The Federal Housing Finance Agency (FHFA) has taken two significant deregulatory steps affecting its oversight of the government-sponsored enterprises, Fannie Mae and Freddie Mac (GSEs). The agency rescinded a 2024 advisory...more

Troutman Pepper Locke

FHFA Director Pulte Terminates Mortgage-Related Special Purpose Credit Programs for GSEs

Troutman Pepper Locke on

In a significant policy shift under the Trump administration, the new Federal Housing Finance Agency (FHFA) Director Bill Pulte issued an order on March 25, 2025 terminating special purpose credit programs (SPCPs) supported...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – March 2025 # 4

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Orrick, Herrington & Sutcliffe LLP

FHFA announces new director is sworn in

On March 14, the FHFA announced that Director William Pulte was sworn in as its fifth director in a ceremony held in Washington, D.C., on March 14. Pulte was appointed by President Trump and will serve a five-year term...more

Orrick, Herrington & Sutcliffe LLP

FHFA orders stress tests for Fannie and Freddie

On March 4, the FHFA ordered both government-sponsored enterprises, Fannie Mae and Freddie Mac, to submit stress testing results based on their financial positions as of December 31, 2024, following scenarios issued by the...more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday February 26, 2025

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February 25, 2025- The Financial Deposit Insurance Corporation released the Quarterly Banking Profile for Q4 2024 with reports from 4,487 commercial banks and savings institutions insured by the FDIC which reported a...more

Orrick, Herrington & Sutcliffe LLP

Mark Calabria to be detailed to the CFPB as part of OMB

According to several published reports, Mark Calabria is expected to join OMB where he will be detailed to the CFPB until Jonathan McKernan is confirmed by the Senate. Calabria previously served as the director of FHFA under...more

Orrick, Herrington & Sutcliffe LLP

FHFA finalizes its liquidity access rule

Recently, the FHFA issued a final rule amending its regulations on FHLBanks’ (Banks) capital requirements, specifically modifying limits on certain types of extensions of unsecured credit by the FHLBanks. Specifically,...more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday January 29, 2025

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January 28, 2025 - The Consumer Financial Protection Bureau released two reports looking at national rental payment data from September 2021 to November 2024. January 28, 2025 - The Consumer Financial Protection Bureau...more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday January 15, 2025

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January 14, 2025- Federal Deposit Insurance Corporation Chair Martin Gruenberg gave a speech entitled “Three Financial Crises and Lessons for the Future,” at the Brookings Institution....more

Alston & Bird

FHFA Announces UDAP Compliance Expectations

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What Happened? On November 29, 2024, the Federal Housing Finance Agency (“FHFA”) released Advisory Bulletin AB 2024-06 (the “Advisory Bulletin”), which sets forth FHFA’s expectations and guidance for Fannie Mae and Freddie...more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday January 9, 2025

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January 8, 2025- The Federal Reserve released the minutes of the Federal Open Market Committee meeting that was held on December 17–18, 2024. January 8, 2025 - Federal Reserve Board Governor Christopher J. Waller gave a...more

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