On Tuesday, 9:30 a.m. EST, the Senate Banking Committee will vote on President Trump’s nominee to be the Chief Regulator of government-sponsored enterprises.
The Senate Banking Committee [1] previously held a hearing on the nomination of Mark Calabria as Director of the Federal Housing Finance Agency [2](FHFA) on Thursday, February 14. As reported in DS News [3], The Trump administration announced Calabria's nomination to head the FHFA in December. He is currently the Chief Economist to Vice President Mike Pence. If confirmed, Calabria would have significant influence over the housing finance market at the FHFA. According to Bloomberg, [4] Calabria had previously pushed for putting Fannie and Freddie into receivership. “Calabria, a former scholar at the libertarian Cato Institute, has also called for abolishing the mortgage-interest deduction, something millions of homeowners benefit from. In addition, he has supported getting rid of government subsidies for the 30-year fixed rate mortgage,” Bloomberg said.
Read about what the industry and regulators had to say about the nomination here. [5]
Here's what else is happening in the week ahead:
- AEI Housing Market Indicators, Monday, 11 a.m. EST
- Housing Starts, Tuesday, 8:30 AM EST
- Jerome Powell Semi-Annual Testimony, Tuesday 10 a.m. EST
- S&P CoreLogic Case-Shiller HPI, Tuesday, 9:00 AM EST
- FHFA House Price Index, Tuesday, 9:00 AM EST
- MBA Mortgage Applications, Wednesday, 7:00 AM EST
- Pending Home Sales Index, Wednesday 10:00 AM EST
- Freddie Mac Primary Mortgage Market Survey, Thursday, 10 a.m. EST
- Fed Balance Sheet, Thursday, 4:30 PM EST