As expected, Senate Banking Chairman Crapo (R-ID) today urged the Trump Administration to pursue its administrative housing finance reform plans (see Client Report GSE143) despite his continued preference for legislation.  He asked what administrative actions are imminent and Secretary Mnuchin said that they will focus on building GSE capital by renegotiating the preferred stock purchase agreement “very quickly.”  As noted earlier today, officials testified in support of the plans, with HUD Secretary Carson stressing his intention to restrict FHA’s profile.

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