15 minute read
Below is a timeline of the actions the Trump administration or Congressional Republicans have taken that impact housing since President Trump took office on Jan. 20, 2025, along with additional coverage of those topics.
CFPB
- Trump fires CFPB Director Rohit Chopra Feb. 1
- Trump names Scott Bessent as new acting CFPB director Feb. 3
- New CFPB Director Bessent orders agency to stop working Feb. 3
- Chopra’s parting shot: A CFPB blueprint for state-level enforcement with teeth Feb. 4
- Enforcement experts fear the wild west of a weaker CFPB Feb. 4
- Mortgage servicers plan for a de-fanged CFPB Feb. 6
- Musk’s team has gained access to CFPB building, data systems Feb. 7
- Project 2025 architect Russel Vought takes over CFPB Feb. 8
- Vought shuts down most of CFPB’s function, cuts off funding Feb. 8
- Trump names Jonathan McKernan director of CFPB Feb. 11
- Legal experts weigh in on the CFPB and the future of regulation Feb. 13
- Meet Jonathan McKernan, the next director of the CFPB Feb. 13
- Lawsuit puts a pause on Trump’s plan to defund the CFPB Feb. 14
- What is Trump’s true plan for the CFPB? Feb. 14
- Appraisers wrestle with the CFPB’s dismantling Feb. 15
- Judge blocks CFPB firings amid Treasury labor union lawsuit Feb. 15
- Leading Senate Democrats demand a halt to HUD cuts Feb. 18
- The FHA denies facing 40% staff cuts but offers no layoff details Feb. 19
- Judge clears way for federal layoffs at CFPB and VA Feb. 20
- GOP bills would eliminate funding for the CFPB Feb. 21
- Trump allies fear DOGE’s methods to dismantle CFPB could backfire Feb. 22
- CFPB nominee McKernan gets grilled in Senate confirmation hearing Feb. 27
- CFPB nominee McKernan commits to protecting older Americans from financial abuse Feb. 27
- Assessing the whirlwind of housing policy changes in 2025 Feb. 27
- CFPB drops lawsuit against Rocket, Jason Mitchell Group Feb. 27
- CFPB drops enforcement action against Capital One Feb. 27
- CFPB told to reinstate fired veterans, military spouses Feb. 28
- CFPB staff: McKernan plans to ‘carry out the closure of the agency’ Feb. 28
- CFPB staff told to continue ‘performing statutorily required work‘ March 3
- Warren blasts CFPB, FHFA nominees as they advance to Senate confirmation votes March 6
- CFPB COO gives details of DOGE’s scaling back of agency in court March 11
- Judge leans toward pause in Trump’s actions to unwind the CFPB March 12
- CFPB staffer alleges misconduct in Townstone redlining suit March 26
- Federal judge orders CFPB to reinstate terminated employees March 28
- Jonathan McKernan could lead CFPB “imminently” April 9
- CFPB freezes nonbank registry rule after industry pushback April 11
- Russell Vought wants to revoke prior CFPB ‘sub-regulatory’ guidance April 16
- CFPB fires 90% of staff, turns away from supervision April 17
- Inside the Trump administration’s plan to gut the CFPB April 21
- Appeals court restores ban on CFPB mass layoffs April 29
- Where does Jonathan McKernan’s CFPB nomination stand? May 2
- There’s a new enforcement playbook for mortgage lenders May 7
- Jonathan McKernan nominated for Treasury role, out at CFPB May 9
- CFPB rescinds 67 guidance docs, including mortgage policies May 12
- CFPB seeks recsission of pandemic-era mortgage servicing rule May 16
- CFPB to scrap ‘unlawful’ open banking rule May 27
- Potential picks for CFPB director after McKernan’s nomination pulled May 27
- Federal Reserve watchdog investigates efforts to dismantle the CFPB June 12
- Judge blocks CFPB bid to undo Townstone redlining settlement June 12
- Senate ‘referee’ says CFPB funding can’t be cut by reconciliation June 20
- CFPB cuts short its monitoring of Bank of America mortgage practices June 24
- The CFPB’s budget may be shrinking, but does that even matter? July 2
- CFPB cleared to fire 90% of its staff by appeals court decision July 15
- CFPB moves to limit nonbank supervision with new ‘risk to consumers definition Aug. 27
Federal Reserve
- FHFA Director Pulte calls on Powell to lower interest rates May 26
- Trump to Powell: It’s a mistake to not lower interest rates May 29
- Trump wants Powell to lower interest rates. Here’s how to do that June 19
- FHFA Director Bill Pulte calls on Fed Chair Powell to resign June 19
- Fed Vice Chair Michelle Bowman supports July interest rate cut June 23
- Jerome Powell says the Fed isn’t budging on interest rates June 24
- It starts: Trump initiates plan to install a shadow Fed president June 26
- FHFA’s Bill Pulte calls on Congress to investigate Fed Chair Powell July 2
- Trump appoints Stephen Miran to Federal Reserve board seat Aug. 7
- Trump attempts to fire Fed Governor Lisa Cook in latest attempt to pack Fed Aug. 25
- Lisa Cook files suit against Trump, Powell and Fed board of governors Aug. 28
- Pulte files new criminal referral against Fed’s Cook over mortgage fraud allegations Aug. 29
- DOJ launches probe into Fed’s Cook over mortgage fraud claims Sept. 4
Tariffs
- Trump places tariffs on Canada, China and Mexico Jan. 31
- Is President Trump bluffing on tariffs? Jan. 31
- Homebuilders ask Trump for tariff exemptions on building materials Jan. 31
- Trump pauses tariffs on Mexico after border security deal Feb. 3
- US strikes deal with Canada to pause tariffs for one month Feb. 3
- Trump paused tariffs, but homebuilders still see long-term risk Feb. 7
- More homebuilder headaches: Trump imposes 25% tariff on steel and aluminum Feb. 10
- Reciprocal tariffs would create chaos for homebuilders Feb. 24
- CFPB source details ‘wholesale termination’ of key contracts March 3
- Trump confirms 25% tariffs on Mexican and Canadian goods March 3
- Trump grants one-month pause on automobile tariffs March 5
- Trump grants one-month tariff delay on most Mexican building materials March 6
- Trump adds Canada to tariff pause on USMCA-compliant goods March 6
- Trump floats Canadian lumber tariffs in latest blow to homebuilders March 7
- Trump threatens to escalate tariffs on Canadian steel and aluminum by 50% March 11
- Trump softens stance on reciprocal tariffs but threat to homebuilders remains March 24
- What to know about Trump’s ‘Liberation Day’ tariff show April 2
- Trump’s ‘Liberation Day’ imposes dramatic global tariff regime April 2
- Bond yields fall after tariff news. Are mortgage rates next? April 2
- Tariff news sends mortgage rates to the lowest level of 2025 April 3
- Homebuilder stocks damaged after Trump’s tariff bombshell April 3
- Trump spares homebuilders on Canadian, Mexican imports, but China hit hard April 3
- Trump slaps China with an additional 50% tariff, and homebuilder stocks tank April 8
- Trump hikes China tariff to 125%, but pauses most others April 9
- Tariffs are creating a perfect storm for the housing market April 15
- Are trade deals good for mortgage rates? April 29
- US, China tariff detente has big implications for homebuilders May 12
- What happens to mortgage rates with more trade deals? May 12
- Federal court blocks Trump’s ‘Liberation Day’ tariffs May 28
- Whiplash: As second court orders halt to tariffs, appeals court keeps them in place May 29
- CFPB enforcement head resigns, criticizes Trump administration June 10
- Americans are divided over housing impacts of immigration, tariffs June 13
- Trump says he’s terminating trade negotiations with Canada. What does that mean for tariffs? June 27
- US, Canada resume trade talks days after Trump halted them June 30
- Trump imposes new tariffs, extends deadlines July 7
- Homebuilders are weathering the trade war — for now July 22
- Tariff impacts on inflation remain “spotty” as Fed considers September rate cut Aug. 12
- Trump’s ‘Liberation Day’ tariffs ruled illegal, but stay in place for now Aug. 29
HUD
- HUD watchdog swept up in large-scale firings of inspector general Jan. 27
- Memo mixup: Trump calls for freeze of 100 HUD programs, then denies it Jan. 28
- Where things currently stand in Trump’s flurry of federal funding memos Jan. 29
- Trump’s first-term budget requests could foreshadow the future of HUD funding Feb. 4
- Scott Turner, Trump’s HUD secretary, confirmed by the Senate and sworn in Feb. 5
- New HUD secretary to prioritize GSE privatization Feb. 6
- HUD Secretary Turner holds town hall, says there are ‘two genders’ Feb. 7
- As White House scrutinizes HUD programs, union leaders offer a waste target Feb. 13
- HUD to cut 50% of its workforce Feb. 13
- HUD announces launch of DOGE taskforce, targest AFFH rule Feb. 14
- These are the functions of the HUD offices targeted for mass firings Feb. 14
- DOGE says it has recovered $1.9B in ‘misplaced’ HUD funds Feb. 15
- Fair housing nonprofit sues Scott Turner, HUD over ‘DEI’ orders Feb. 19
- Internal memo outlines DOGE’s plan to gut HUD Feb. 24
- Federal workers union sends cease and desist to HUD, OPM over DOGE directive Feb. 24
- Trump, Musk targeted by falsified video at HUD headquarters F eb. 24
- DOGE accessed confidential HUD data on housing discrimination Feb. 26
- Trump administration ends Affirmatively Furthering Fair Housing rule Feb. 26
- Trump nominates Andrew Hughes as HUD’s deputy secretary March 11
- HUD reportedly axes Biden-era green retrofit program March 12
- Trump prepares to develop affordable housing on federal land March 17
- HUD cancels HECM-related tech contract under direction of DOGE March 24
- HUD, DHS seek to stop undocumented immigrants from using federal housing programs March 24
- FHA restricts loan eligibility to US citizens and permanent residents March 26
- New FHA citizenship, residency requirements apply to reverse mortgages March 26
- What the FHA’s new eligibility requirements means for immigrant homebuyers March 27
- Federal judge temporarily cancels HUD cuts to fair housing grants March 27
- HUD cuts 90% of its website content, citing low traffic April 1
- The GAO to investigate HUD’s attempted fair housing cuts April 2
- Scott Turner’s busy day on X April 3
- HUD doubles down: No FHA financing for ‘unqualified aliens’ April 7
- Trump’s FHA restrictions could impact Hispanic homeownership April 8
- FHA further extends foreclosure, eviction moratorium for Helene and Milton victims April 8
- HUD and DOGE target mixed immigration status households April 16
- HUD makes it official: It will seek new headquarters April 17
- Democratic senator open to working with HUD on federal land for housing April 24
- FHA walks back Biden-era restrictions on foreclosed properties April 28
- HUD Secretary on withholding funds to cities over homelessness April 30
- Trump’s budget request seeks $33B in HUD cuts May 2
- White House proposes elimination of Section 8 housing May 5
- HUD announces Virginia disaster aid following presidential declaration May 6
- Trump budget outlines proposed cuts to rental assistance May 6
- Civil rights, housing advocates urge HUD to rescind ‘watered down’ fair housing rule May 7
- HUD secretary defends repeal of fair housing rule May 12
- FHA cites AI emergence as it ‘archives’ inactive policy documents May 13
- HUD blames Biden for lapse of emergency housing voucher funding May 13
- HUD announces $1.1B in funding for affordable housing in tribal lands May 13
- HUD approves Asheville hurricane recovery plan after initial objection over DEI May 16
- Joe Gormley addresses those pesky Ginnie Mae rumors May 19
- Scott Turner tours Nevada federal land to talk housing development May 19
- HUD walks back mortgage default guidance as ‘too burdensome’ June 3
- HUD is more vulnerable to fraud after staff cuts June 5
- Senate confirms Andrew Hughes as HUD’s deputy secretary, but key vacancies remain June 12
- HUD signs agreement with South Korean housing finance agency June 13
- Without VASP, veterans don’t have a foreclosure safety net June 20
- HUD officially ditches Weaver building for new HQ June 26
- FHA rescinds 12 policies as Trump pushes to cut red tape June 27
- HUD announces three senior leadership positions June 27
- Trump administration ‘effectively disbands’ PAVE task force July 10
- Judge orders HUD to resume allocation of fair housing funds July 30
- Trump signs VA foreclosure prevention bill into law July 30
- Joseph Gormley nominated to lead Ginnie Mae Aug. 4
- MBA voices support for FHA Commissioner nominee Frank Cassidy Aug. 5
- Freddie Mac expands CHOICEHome financing options Aug. 6
- HUD moves to bar non-permanent residents from Section 184 tribal loan program Sept. 4
FHFA
- MBA issues support for FHFA nominee Bill Pulte Jan. 29
- FHFA nominee Bill Pulte discloses investments Feb. 25
- Bill Pulte lays out vision for FHFA under Trump Feb. 27
- Senate confirms Bill Pulte as FHFA director March 13
- New FHFA Director Bill Pulte is focused on GSE reform March 13
- Bill Pulte pledges to scrutinize ‘underperforming’ Fannie and Freddie, root out mortgage fraud March 14
- Pulte makes sweeping changes to boards of GSEs March 17
- Will Fannie, Freddie get the DOGE treatment? March 18
- CHLA urges FHFA Director to keep issues for small IMBs in mind March 19
- Fannie Mae board member with DOGE ties departs one day after appointment March 20
- FHFA cuts staff as Freddie Mac announces end of remote work March 20
- Top execs at Freddie Mac, FHFA fired March 20
- Bessent floats adding GSEs to sovereign wealth fund March 24
- FHFA office closures impact fair lending, consumer protection March 24
- Pulte won’t cut conforming loan limits for Fannie, Freddie. March 25
- Pulte terminates SPCPs, issues recision of UDAP bulletin in slew of orders March 25
- Mortgage leaders react to FHFA’s ending of SPCPs March 26
- FHFA makes changes to climate risk, radon inspection policies March 27
- FHFA replaces Freddie Mac board member amid other changes April 1
- Pulte says he’s canceled $6.4M in “DEI nonsense” at Fannie and Freddie April 7
- FHFA is establishing a mortgage fraud tip line April 16
- Pulte says he’s done making leadership changes at the GSEs April 21
- Bill Pulte shares his plans to improve GSEs’ productivity April 30
- Pulte: North Korean and Chinese nationals working at GSEs referred to DOJ May 6
- DOJ to investigate Letitia James over mortgage fraud on Pulte referral May 9
- Bill Pulte is putting ‘obese’ Fannie and Freddie ‘on the treadmill’ May 20
- Trump says he’s giving ‘serious consideration’ to releasing Fannie Mae, Freddie Mac May 22
- Trump’s GSE exit pursuit is complicated (and could be costly) May 22
- Bessent weighs mortgage rate risk in potential release of GSEs May 24
- Trump: I’m taking Fannie and Freddie ‘public’ with implicit guarantee May 27
- What an implicit guarantee means for mortgage rates on GSEs’ release May 27
- CHLA offers support for Pulte’s position on FICO pricing May 28
- How Bill Pulte has reshaped FHFA and the GSEs May 30
- Updated list of Pulte’s actions that impact FHFA, GSEs May 30
- Nevada democrat calls on FHFA for transparency in home purchases by investors June 3
- GSEs could go public while staying under government control June 3
- Senators call on FHFA Director Pulte to pause GSE privatization plans June 6
- Fannie, Freddie will prepare for cryptocurrencies in mortgage June 25
- FHFA Director Bill Pulte still being contacted by arrested would-be bomber June 26
- FHFA wants crypto in mortgages. Lenders have questions July 2
- Pulte says GSEs will accept VantageScore 4.0 immediately July 8
- Pulte’s VantageScore bombshell sends the mortgage industry scrambling July 10
- FHFA clarifies key VantageScore 4.0 implementation considerations July 15
- Trump says he will now not fire Jerome Powell July 16
- VantageScore 4.0 is coming. But much work needs to be done July 16
- Why firing Jerome Powell won’t work for President Trump July 16
- Fired Fannie Mae workers sue over discrimination July 23
- Lawmakers voice support for FHFA’s adoption of VantageScore 4.0 July 25
- FHFA plans to eliminate GSEs’ equitable housing finance plans July 28
- Trump meets with big bank CEOs to talk about taking the GSEs public July 31
- FHFA doubles GSE funding for low-income housing tax credits Aug. 5
- Trump plans IPO for Fannie, Freddie, later this year Aug. 8
- Trump’s GSE stock offering plan challenged by analysts Aug. 8
- Trump seems to confirm 2025 timing for Fannie, Freddie IPO Aug. 9
- Fannie, Freddie merger buzz draws mixed market response Aug. 11
- MBA opposes GSE merger, supports explicit government guarantee Aug. 15
Federal employees/hiring, funding and regulatory freeze
- Trump initiates federal hiring freeze, return-to-office mandate Jan. 21
- Trump’s regulatory freeze brings uncertainty to the housing market Jan. 21
- Trump’s order to end DEI initiatives will impact federal housing agencies Jan. 21
- Federal hiring freeze could impact the rollout of HMBS 2.0, former Ginnie Mae head says Jan. 28
- White house offer to federal employees sparks concern, union opposition Jan. 30
- Judge halts deadline for White House ‘buyout’ of federal workers Feb. 6
- DOGE tells federal employees to detail their workweek or be fired Feb. 23
- Trump memo calls for escalation of mass layoffs at federal agencies Feb. 26
- Federal judge orders release of DOGE operational records March 12
- Judges rule that CFPB, HUD probationary employees still have jobs — for now March 15
- After Trump fires Democratic FTC commissioners, could Powell be next? March 19
- Treasury Department plans to cut thousands of employees March 25
- Affordable housing upgrades stalled by federal grant freeze March 26
- Judge orders Trump administration to reinstate federal employees April 2
- Fannie Mae fires over 100 employees, citing unethical conduct April 8
- Trump executive order aims to lower costs for federal agency buildings April 16
- Supreme Court case could impact Federal Reserve independence April 16
- Bessent reportedly cautions Trump over Powell comments April 17
- DOGE places entire staff of homelessness agency on leave April 17
- ESG team at Fannie Mae has been terminated: sources. April 25
- Will Trump install a shadow Fed president to get lower rates? April 29
- DOGE cuts to AmeriCorps imperil Habitat for Humanity programs April 30
- Senators call for investigation of possible DOGE ethics violations June 3
- Bessent announces 10 new appointments at Treasury June 27
- It’s official: DOGE cuts are impacting the DC housing market June 27
- Supreme Court ruling allows Trump’s federal workforce cuts to proceed July 8
Executive orders
- Trump issues executive order: Emergency price relief on housing Jan. 20
- How Trump’s executive orders impact homebuilders Jan. 21
- Trump’s path to lower housing costs has to navigate local concerns Jan. 21
- Trump issues executive order: DOGE workforce optimization initiative Feb. 11
- Trump makes move to control independent regulatory agencies Feb. 20
- Trump orders immediate expansion of US timber production March 1
- Trump expects TikTok sale deal ahead of Saturday deadline March 31
- How a housing nonprofit survives the age of DOGE April 2
- Trump’s assault on DEI hasn’t ended federal efforts to stop appraisal bias June 26
- Trump will consider eliminating capital gains taxes to boost housing market July 23
- Trump executive order would investigate banks for political discrimination, crypto stance Aug. 5
- Treasury Secretary Bessent says Trump may declare national housing emergency Sept. 2
Opinions on Trump administration actions
- On his first day, President Trump reversed these fair housing protections Jan. 31
- Why the CFPB enforcement pause is not a free pass to lenders Feb. 10
- The Trump administration thinks HUD’s disaster relief is a waste of money. They’re wrong Feb. 19
- Trump will be a huge positive to mortgage, Mat Ishbia says Feb. 26
- As the DOJ takes shape, housing must be front and center March 21
- President Trump’s administration cuts more fair housing policies. What’s at stake? April 2
- GSE privatization effort must navigate ‘race to the bottom’ June 17
- Fannie Mae’s new AI-powered crime detection unit: The Pulte/Palantir project June 27
- Five reasons real estate agents should care about tariff news July 7
