There is a whole other level of supervisory and enforcement authority available to the bureau under a director approved with the consent of the Senate, mostly having to do with non-bank lending.
Wall Street is concerned that the further away a loan is from getting safe harbor protection as a qualified mortgage, the more legal uncertainty and higher costs there will be associated with it.
Freddie Mac's "low activity fee" will be mostly eliminated. However, it will still apply to originators that have not sold a loan to the GSE in 36 months.
When rates spiked this week, margin calls to MBS investors increased. Lenders are nervous but next will will be the real test, mortgage executives told Inside Mortgage Finance.
Banks and thrifts continued to push a high volume of home mortgages into the secondary market during the first three months of 2013, but the pace was slowing, according to a new Inside Mortgage Trends analysis of call report data. The industry reported $395.8 billion in single-family mortgage sales during the first quarter, down 5.1 percent from the previous period. It was a stronger sales volume than during the first quarter of 2012, however, and ranked as the fourth largest ... [Includes one data chart]
Although Freddie Mac and Fannie Mae are reviewing recently originated mortgages more closely than they have in the past, the bulk of the whopping $13.21 billion in mortgage repurchases reported by the two government-sponsored enterprises during the first quarter came from loans originated years ago. A new Inside Mortgage Trends analysis of repurchase activity reported by the two GSEs in Securities and Exchange Commission filings shows that 80.0 percent of the buybacks recorded in ... [Includes two data charts]
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