MBA's Marina Walsh noted, “Per-loan production expenses continued to rise for the fifth consecutive quarter, reaching the second-highest level ever reported.”
Bottom line: The demand for product has never been better — thanks to rising interest rates, slowing prepayments and institutional investors hunting for yield.
Ed Pinto and Patrick Lawler of the American Enterprise Institute argue that the capital standards, even under Calabria’s more conservative rule, are already too weak.
If the Senate fails to resolve the debt ceiling in time, the federal government’s credit rating will likely be downgraded to “restricted default.” So, too, will the ratings on GSE debt.
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