On this week’s The Big Picture, Jim Parrott, nonresident fellow at the Urban Institute and former senior housing adviser at the White House, joins the show to break down the fast-moving policy and political dynamics shaping today’s mortgage market. With deep experience inside Washington and across the housing finance system, Jim brings a clear-eyed perspective on what’s noise and what actually matters for lenders, borrowers, and the broader economy.

We dig into the latest developments around Federal Reserve leadership, the evolving role of the FHFA and credit scoring policy, and where things stand on long-debated GSE reform. The conversation also explores how political pressures, regulatory shifts, and capital requirements are influencing bank participation and housing affordability, along with what’s realistic (and what’s not) as the industry looks ahead to the next few years. It’s a candid, insider-level discussion on policy, power, and the future of housing finance.