Thompson Emphasizes CRT, Equitable Finance, Safety as Top FHFA Objectives
At her first hearing as confirmed FHFA Director, Sandra Thompson made it clear to the House Financial Services Committee that she is committed to expanding credit-risk transfer (CRT), encouraging equitable finance via new GSE activities, and recapitalizing Fannie and Freddie as quickly as possible. Pressed by Rep. Hill (R-AR) to finalize a 2020 proposal to make new Enterprise programs subject to public notice, Ms. Thompson promised to finalize a rule but demurred when asked to do so by year-end. Her written testimony includes a commitment for a ninety-day listening session to consider a new mission for the Federal Home Loan Banks, but members did not ask about this or other recent calls to reconsider the System. Chairwoman Waters (D-CA) and Ranking Member McHenry (R-NC) continued their sparring match over the extent to which HFSC focuses on essential policy issues and promotes the public good. No legislation addressing any of the GSEs seems likely in this Congress.