FHFA director assumes new role; ex-Fed chair issues warning 

This week in Washington, D.C., the head of the Federal Housing Finance Agency (FHFA) is expanding his responsibilities by assuming a new role in the federal government.

Meanwhile, former Federal Reserve Chair Jerome Powell has issued a warning about the "stress test" facing the central bank amid mounting political pressure.

Elsewhere in the nation's capital, a collection of fair housing groups has sued the Consumer Financial Protection Bureau (CFPB) over lending regulation updates, and a survey by a D.C. think tank sheds light on the widespread impact of homeowners insurance rate changes.

FHFA director to oversee national intelligence

In an unexpected move this week, President Donald Trump appointed FHFA Director Bill Pulte to serve as acting director of national intelligence. Pulte succeeds Tulsi Gabbard, who resigned from the director role last month.

A close ally of the president, Pulte will also continue serving as director of the FHFA and chairman of the Fannie Mae and Freddie Mac boards. To take on the new role permanently, he would need to be confirmed by the Senate.

In a June 2 statement, Trump said Pulte "has deep experience managing the most sensitive matters in America, the safety and soundness of the Markets, and over 10 Trillion Dollars at Fannie Mae/Freddie Mac, a substantial increase from where it was just 12 months ago."

But in the hours after the announcement, Trump's critics questioned that experience and Pulte's actions so far at the FHFA. As the housing agency's director, Pulte has urged the DOJ to investigate several of the president's perceived political enemies — including one Federal Reserve governor — over mortgage fraud allegations, requests that congressional Democrats said merit a closer look by an independent watchdog agency.

Republican John Thune of South Dakota, the Senate's majority leader, also appeared uncertain about the appointment. If the Trump administration wants Pulte in the position permanently, Thune told Politico, "he's got, as you all know, a lengthy road ahead of him."

Fed's credibility under threat, former chair warns

Days after Kevin Warsh was sworn in as the Fed's new chair, his predecessor issued a warning about the threats currently facing the central bank.

While accepting the John F. Kennedy Profile in Courage Award in Boston on May 31, Powell — who is for now remaining at the Fed as a governor — said the central bank has a duty to make monetary policy decisions "based only on our best economic analysis of what would most benefit the people we serve" and not on "the fortunes of any political party or politician."

The Fed "has been undergoing a stress test," Powell said. The central bank was created to operate independently and has certain protections in place to ensure its ability to do so, he explained, which presidential administrations of both parties have respected in the past.

"If any administration finds a way to remove Fed officials over policy differences, then future administrations will do so as well," he said. "The public would lose faith that the central bank will make decisions based only on what's best for all Americans. The Fed's credibility would be lost."

Powell's remarks come after a year in which Trump and Pulte repeatedly issued public calls for the Fed to lower short-term interest rates. The ex-Fed chair was threatened with termination when rate cuts were not executed quickly. Powell also became the subject of a widely criticized DOJ investigation, which raised concerns about the Fed's ability to remain independent and ultimately stalled Warsh's confirmation.

National Fair Housing Alliance sues CFPB

Last week, the National Fair Housing Alliance (NFHA) filed a lawsuit against the CFPB and its acting director, Russell Vought, over an April rule change that the alliance said "unwinds five decades of fair and affordable credit protections" under the Equal Credit Opportunity Act.

The change was made despite "overwhelming opposition" from fair housing and consumer advocates, the NFHA said in a news release, adding that the CFPB "advanced its final rule unchanged" even after over 70 organizations weighed in during the public comment period.

The lawsuit was filed May 27 in the U.S. District Court for the District of Columbia. NFHA and three other plaintiffs — Rise Economy, SolasAI and BLDS, LLC — are calling for the rule to be vacated.

But in a statement to Real Estate News, Vought said he has been working to eliminate discriminatory policies at the bureau since he began leading it.

"One Hallmark of the second Trump administration has been the eradication of discriminatory raced based policies that have permeated every aspect of government under the banner of 'diversity equity and inclusion.' The administration of fair lending laws is no exception," Vought's statement read.

"As acting Director of the CFPB, I am taking steps to correct how the equal credit opportunity act is enforced. This law was intended to eradicate discrimination in lending not encourage new forms of discrimination, which it did under the Biden administration."

Insurance costs up 'a lot' for many homeowners

While 2026 started with some gains in housing affordability, a growing trend is making homeownership generally trickier for many Americans to afford.

According to a recent Pew Research Center survey, 7 in 10 homeowners said the cost of homeowners insurance has increased in the past few years, with 42% saying costs have gone up "a lot." The D.C.-based nonpartisan think tank found these views to be relatively consistent across the U.S., with at least 69% of respondents in each region claiming they have been impacted by rising costs.

When asked what they thought was the cause of the increases, a majority blamed insurance company greed (65%) and the costs of repairing or rebuilding homes (61%). Less than half (46%) faulted extreme weather events, and just over 1 in 4 blamed government regulations.