Government

The MReport talks with Dr. Richard Green. Director of the USC Lusk Center for Real Estate, on the future of the Housing and Urban Development Department.

Before the Federal Reserve Meeting on March 14, Federal reserve Head Janet Yellen announced the possibility of federal rate increases.

After months of waiting, on Thursday Ben Carson was confirmed and sworn in as HUD Secretary. The industry was swift to voice their opinion on this next chapter for the housing agency.

Today, Dr. Ben Carson, a retired neurosurgeon whose candidacy to win the Republican nomination for the presidency in 2015 made him a household name, was confirmed by the U.S. Senate as the 17th Secretary of HUD.

Throughout his hour-long speech, the president spoke of many changes and plans he had to “make America great again”—perhaps the most important of which to mortgage professionals were his comments regarding regulation.

Republicans don’t want any new rulings coming from the Federal Reserve and may move to block any attempts from that agency.

The executive order, signed on Friday, calls for each federal agency to create a task force to review existing regulations and make recommendations about which should be repealed or modified, according to CNBC

The recently confirmed Secretary of the Treasury, Steven Mnuchin, announced his ambitious goals for a U.S. tax-code overhaul by August on Thursday and also addressed the future of Fannie Mae and Freddie Mac.

Positive outlook for the housing industry was presented by Federal Open Market Committee, with statements that gradual rate increases are probable in the future.

During a recent Q&A, Kashkari voiced his views on bank restructuring, and he also shared his personal experiences with trying to obtain a mortgage, and the frustration caused by the mortgage lending process.