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Volume 2014 - Number 6

February 14, 2014

QE Taper Poised to Continue, New Fed Chief Yellen Signals, Says It’s Time for Housing Finance Reform

Federal Reserve Chair Janet Yellen stuck close to the script of her predecessor on the subject of the Fed’s “quantitative easing” exit strategy during her first Humphrey-Hawkins appearance before Congress this week, reaffirming that the central bank’s pull-back from its asset-purchase program is likely to continue, barring a dramatic surprise. “Let me emphasize that I expect a great deal of continuity in the Fed Open Market Committee’s approach to monetary policy,” Yellen told the House Financial Services Committee on Tuesday. “I served on the committee as we formulated our current policy strategy and I strongly support that strategy, which is designed to fulfill the Federal Reserve’s statutory mandate of maximum employment and price stability.” The new Fed chief reminded...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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Poll

With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.
Yes, by a lot.
Yes and, heck, we may even do non-QM lending.
No, not at all.
No and we may even tighten credit.

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