• May 19, 2017
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    House Financial Services Committee Chair Jeb Hensarling (R-TX) recently released a discussion draft summarizing legislation he intends to introduce soon that will reauthorize and reform the National Flood Insurance Program (NFIP). NFIP’s authorization is scheduled to expire at the end of fiscal year (FY) 2017. Hensarling says that NFIP reform will be one the Committee’s top priorities this year.

  • May 12, 2017
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    The Senate Banking Committee yesterday held a hearing to examine the status of the housing finance system and the role in it of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. This is the first in a series of hearings the Committee is expected to hold this year as it works on housing finance reform legislation.

  • May 8, 2017
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    The Federal Housing Finance Agency (FHFA) earlier today released Fannie Mae and Freddie Mac’s proposed Underserved Market Plans (the Plans). The purpose of these plans is for each firm to explain how it intends to carry out its duties as outlined by FHFA’s Enterprise Duty to Serve rule.

  • May 5, 2017
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    The House Financial Services Committee yesterday favorably reported the Financial Choice Act (The CHOICE Act, H.R. 10), which would repeal and replace a number of provisions of the Dodd-Frank Wall Street Reform Act. The bill includes several provisions that could impact the rules governing HFA lending programs and ways of financing them.

  • May 5, 2017
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    Both the House and Senate, on May 3 and May 4, respectively, passed the FY 2017 omnibus spending package funding government agencies, including the Department of Housing and Urban Development (HUD), for the remainder of FY 2017, which ends September 30. The President is expected to sign the measure today.

  • May 5, 2017
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    The U.S. Senate on May 2 confirmed Jay Clayton’s nomination to chair the Securities and Exchange Commission (SEC) by a vote of 61-37. Clayton was previously a partner at Sullivan & Cromwell LLP, an international law firm. Clayton was sworn in as SEC Chair yesterday.

  • April 28, 2017
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    The White House announced today that President Donald Trump intends to nominate Pamela Patenaude to serve as Deputy Secretary for Housing and Urban Development (HUD). Patenaude is currently president of the J. Ronald Terwilliger Foundation for America’s Families, an organization that seeks to elevate housing’s place on the political agenda.

  • April 28, 2017
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    The Trump Administration released April 26 a one-page outline of tax reform principles and objectives it intends to pursue this year. The document calls for reductions in individual and corporate tax rates to be paid for, at least in part, by economic growth the Administration estimates the proposed changes will create and by eliminating tax deductions and other tax "breaks."

  • April 24, 2017
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    The Mortgage Bankers Association (MBA) last week released a white paper detailing its recommended approach to reforming the Government-Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac and the housing finance system. The paper was developed by MBA’s Taskforce for a Future Secondary Market.

  • April 21, 2017
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    House Financial Services Committee Chair Jeb Hensalring (R-TX) released on April 19 a discussion draft of comprehensive financial regulatory reform legislation he intends to introduce soon. The Committee has scheduled a hearing on this legislation, titled the CHOICE Act, for April 26 at 10:00 a.m. Eastern time. Hensarling introduced similar legislation last Congress.