Addressing the annual convention of the American Bankers Association, the CFPB chief stressed that his agency is proceeding full speed ahead with the January implementation of its mortgage rules.
At least two young mortgage insurance firms hope to go public by yearend. But how might the market receive these deals with so much uncertainty surrounding the GSEs?
Through September $2.1 billion in originations by First Republic were included in jumbo MBS this year. The loans accounted for 17 percent of all non-agency jumbos securitized, according to exclusive figures compiled by Inside Nonconforming Markets.
One mortgage recruiter noted that job losses in somewhat rural communities can be a big problem for workers. Sometimes theyre the largest employer in town and theres nowhere else to go, he said.
Previously, speculation has ranged from January 1 to June 30. Mortgage bankers told Inside Mortgage Finance that whatever the FHFA decides on an implementation date, it had better do so soon.