FHFA Concessions Show Mortgage Lenders Have Regained Sway in D.C.

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FHFA Concessions Show Mortgage Lenders Have Regained Sway in D.C.

FHFA Concessions Show Mortgage Lenders Have Regained Sway in D.C.

They no longer give a shit what anyone thinks. Industries control Washington, control the regulators.


National Mortgage News-

Mortgage lenders finally got what they wanted from Washington.

In the last few months Federal Housing Finance Agency Director Mel Watt has struck a conciliatory tone with mortgage lenders, seeking input on housing policy and changing loan-buyback rules to be more favorable to the industry. Watt’s actions stand in stark contrast to those of former acting FHFA director Ed DeMarco, who helped Fannie and Freddie return to profitability but antagonized mortgage lenders with staunch buyback demands.

It’s a clear signal that the administration, six years after the financial crisis, has concluded it needs bankers’ help to jump-start the tepid housing recovery.

[NATIONAL MORTGAGE NEWS]

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