Regulatory reform

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.

The mortgage giants will have to meet benchmarks for covering cash flow needs during stressed periods. The FHFA views the requirements as a prerequisite to the companies exiting conservatorship.

The agency plans to issue an advance notice of proposed rulemaking dealing with efforts by fintechs and data aggregators to leverage a consumer's bank account information.

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

Policymakers have eased some rules and the Supreme Court recently dealt a blow to the Consumer Financial Protection Bureau. But as the landmark legislation approaches its 10th anniversary, the post-crisis regulatory regime has stayed largely intact.

The agency has proposed letting firms seek specific guidance, which can be applied to other institutions. But consumer groups worry the plan circumvents formal rulemaking.

In a letter to Director Mark Calabria, 17 organizations requested an additional 60 days to weigh in on the proposal meant to strengthen Fannie Mae and Freddie Mac's balance sheets post-conservatorship.

Chris Dodd and Barney Frank said the legislation — nearing its 10th anniversary — put banks in position to be a stabilizing force during the coronavirus crisis.

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.