Tag Archives: U.S. Department of Treasury

The former Goldman Sachs and OneWest executive was confirmed as the 77th U.S. Secretary of the Treasury on Monday evening.

A more clearly-defined government role and a framework of countercyclical policy tools to protect homebuyers—and the overall economy—during downturns and recessions, according to the U.S. Department of Treasury.

The digital age has altered the way consumers and financial institution lenders are doing business, and the emergence of online marketplace lending, particularity in the mortgage space, has provided a medium for transactions to occur between the two from anywhere.

The fact that the Enterprises remain in conservatorship of the FHFA has been a contentious topic among lawmakers and housing industry stakeholders in recent months. Fannie Mae and Freddie Mac returned to profitability in 2012, but those profits declined substantially from 2013 to 2014. Recent reports, including one from the FHFA Inspector General, have warned that the profitability of the GSEs might not continue even though the conservatorship probably will.

Stegman said the Administration would not end the conservatorship of the GSEs without a viable alternative that provides that elusive balance between eliminating taxpayer risk while still allowing credit access.