“I feel great about what he’s doing and what his focus is,” he said. “I don’t care what your industry is. Nobody wants fraud. People doing things the wrong way, get them out. I think Bill’s real point is, ‘I’m leading from the front. I’m going to make decisions that are going to help Fannie and Freddie, which then helps lenders, which helps consumers, and helps real estate.’”
Ishbia feels that the new leadership represents a major change from the directors installed by the previous administration.
“He’s going to be putting things in place, and he’s going to make a big impact in a positive way,” he said. “Compared to what we had the last four years? It’s a welcome, welcome change. I’m not a big political person, but what happened the last four years, politically and leadership-wise, in Fannie Mae, Freddie Mac, Ginnie Mac, versus what’s happening now is night and day.”
Ishbia believes the leadership changes at FHFA and HUD combined with the hope of lower rates could lead to better times for brokers.
“It couldn’t be worse than it was before,” he said. “On top of that, rates were high over the last three and a half years. I’m assuming the next four years, rates will be a little bit lower, and with better leadership, should make affordability better for consumers, should make opportunities for lenders and people to do even more business and grow.”