The Structured Finance Association, which is developing a compliance tool to facilitate uniformity in the non-agency MBS market on QM standards, has run into a vexing issue regarding the definition of a QM.
The mortgage industry keeps pining for a rate cut but so far the Fed has resisted. This week, a hotter-than-anticipated CPI reading stalled momentum on the rate front and MBS prices headed lower.
Ed DeMarco, the former acting director of the FHFA, was among a handful of panelists at the SFVegas conference this week who called for more standardization in the non-agency MBS market.
Attendance at the SFVegas conference this year hit another record. Demand for MBS and ABS is exceptionally strong, with few concerns on the immediate horizon.