T
he Federal Housing Finance Agency (FHFA) Director Bill Pulte has requested an investigation into mortgage fraud allegations against Fed Governor Lisa Cook. President Trump has called for her resignation, citing alleged falsification of bank documents and property records to secure more favorable loan terms. The FHFA obtained documents showing Cook claimed two homes as primary residences.

    Meanwhile, the Department of Housing and Urban Development (HUD) will now use only English for all business and services, aligning with President Trump's executive order declaring English the official language. HUD Secretary Scott Turner confirmed this shift in a post on X, stating that HUD will "speak with one voice and one language" to deliver its mission.

    The Federal Reserve is exploring the potential of cryptocurrency payments, with Governor Christopher Waller citing private sector-led innovation in payment technologies. The Fed is conducting research on tokenization, smart contracts, and AI in payments, which could benefit from further engagement with industry innovators.

    Debate continues over the future of Fannie Mae and Freddie Mac, with a former risk management official suggesting a merger between the two government-sponsored enterprises (GSEs). Clifford Rossi believes that merging Fannie and Freddie could be beneficial, but warns that investors' perception of them as government-backed agencies is crucial to maintaining low mortgage rates.