Purchase-mortgage production is expected to climb to a record high next year, according to industry economists. Refis may not match this year’s unprecedented volume but will still remain strong.
In testimony before lawmakers, both Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell stressed that time and care is needed to raise capital before the GSEs exit conservatorship.
Regulatory reforms initiated after the 2008 financial crisis seemed to work as intended during the COVID-19 downturn, according to participants at the ABS East conference.
FHA Commissioner Dana Wade has questioned the increase in loan limits, saying the agency has been put in a position of insuring a segment of borrowers who are better served by conventional lenders.
In areas where home price appreciation rises faster than conforming loan limits, Redwood's network of correspondent lenders gives it an edge in the jumbo loan market.