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Housing Call: May 31, 2022

Federal updates

  • Senate Democrats acknowledged last week that they wouldn’t meet the self-imposed deadline of Memorial Day for cutting a deal on a reconciliation package. However, that doesn’t necessarily mean that negotiations are over. Democrats appear to be pushing back the target date for coming to an agreement with Senator Manchin. Now they are looking at the start of the August recess as the new deadline, which would give them most of August to draft legislation and the month of September to vote. That timing will still be a challenge, especially so close to the midterm election.
  • Sandra Thompson has been confirmed by the Senate as the new director of the Federal Housing Finance Agency. The FHFA oversees the bulk of the mortgage market. Thompson has been leading the agency on a temporary basis for nearly a year after President Biden appointed her acting director of FHFA in June 2021. She was nominated for the permanent job in December and is the first African American woman to be confirmed to this role.
  • Congress is out on recess this week, returning next week.


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Housing Call: May 24, 2022

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