Originations of jumbo mortgages rose sharply during the second quarter of 2015, including loans in high-cost housing markets that are eligible for agency mortgage-backed securities, according to a new Inside Mortgage Finance ranking and analysis. During the second quarter, the market produced a whopping $127.6 billion of home mortgages that exceeded the $417,000 benchmark conforming loan limit, a 33.1 percent increase from the first three months of the year. Jumbo mortgages accounted for 28.7 percent of second-quarter originations, the highest ratio since “emergency” high-cost limits were set back in 2008. Most of the jumbo production was...[Includes three data tables]
Under the new policy, corporations must provide the DOJ with all relevant facts about individuals involved in corporate misconduct if they hope to get leniency or credit for cooperation in the investigation.
Officials from the Consumer Financial Protection Bureau, Wells Fargo and other industry players are set to provide an update on qualified mortgages and other CFPB initiatives...
"For the CFPB to act on its own in such a bullish manner without concern for the confusion this will cause, along with additional costs for consumers, is unconscionable,” said NAIHP chief Marc Savitt.