Election 2020

The ballot measure, which would allow local jurisdictions to expand rent control, had concerned mortgage companies who worried the law would result in a patchwork of different policies that could complicate underwriting and discourage lending.

If days go by without a clear result, the uncertainty could lead to market volatility, put off talks for a stimulus plan and complicate bankers' planning for a potentially new regulatory environment.

The race enters a complicated phase that could impact financial markets.

A Democratic victory in Tuesday's election would likely produce new leaders at the CFPB and OCC who could take bank regulation in a sharply different direction. Here are some names potentially under consideration.

Deals, trends and research in structured finance and asset-backed securities for the week of Oct. 23-29

Kathy Kraninger’s job status would be in question if Joe Biden wins the White House. If the president is reelected, she may continue balancing a deregulatory agenda with her unexpectedly tough stance on enforcement.

New research reveals the financial services industry both prefers and predicts an incumbent win in November.

Legislation favorable to the industry would be unlikely to pass in a divided Congress, but the biggest benefit for banks and credit unions of Republicans' retaining control of the chamber would be defending against the disruption of a Democratic blue wave.

Party polarization and racial equity issues make it tougher for trade groups to manage internal divisions while ensuring the field supports those who get their hands on the levers of power.

If Trump is reelected, his administration would likely move forward with privatizing Fannie Mae and Freddie Mac and relaxing key rules, while a Joe Biden presidency would likely try to expand homeownership access and borrower protections.

A second-term Trump administration would likely continue its deregulatory efforts, focus on Fannie Mae and Freddie Mac's exit from conservatorship, and seek to facilitate fintech participation in the banking system.

From affordable housing policy to GSE conservatorship, the next president will wield a heavy influence on mortgage and housing policies.

B. Riley FBR raised its ratings for both Fannie Mae and Freddie Mac to sell from neutral on the possibility the net worth sweep is declared illegal.

The Supreme Court threw out a key statutory provision concerning the agency’s leadership structure, but the presidential election and possible legislative reforms could bring about more changes to the embattled bureau.

Whatever path Fannie Mae and Freddie Mac take, the Mortgage Bankers Association would like to see them preserve many of the changes they made while in government conservatorship.

Leveraged loans and collateralized loan obligations do not represent an "existential" threat to the global economy or to the U.S. banking system, as some recent highly charged reports have suggested.

The congressional showdown over the pace of rulemaking during the pandemic is a hardening of older positions on banking policy ahead of the 2020 elections, observers said.

The Elections 2020 panel focused on topics such as the long-shot proposal for a wealth or transaction tax on Wall Street, as well regulatory changes that Sanders or another Democratic candidate's administration could enact affecting housing reform or banking oversight.

Years after criticizing the Dodd-Frank Act, the Democratic presidential candidate and former New York City Mayor Michael Bloomberg is now taking a page from the Elizabeth Warren playbook.

Macro factors point to a solid year in the securitization market but wild cards abound, many of them political.