Mortgage income reported in bank call reports includes earnings from production, loan sales and net servicing results, so industry profits are not tied exclusively to new lending.
Federal regulators this week re-proposed risk-retention requirements with an option to align the definition of qualified residential mortgages with the definition of qualified mortgages. The regulators said the alignment will help increase mortgage availability and reduce compliance costs. “The agencies are concerned about the prospect of imposing further constraints on mortgage credit availability at this time, especially as such constraints might disproportionately affect groups that have ...
Warehouse lending executives say they are seeing their nonbank clients earn less money this summer, but noted that profits are still strong by historical levels.
The the most powerful consumer regulator in the nation raised concerns about aligning the definitions of 'qualified residential mortgage' and 'qualified mortgage.'
The NCUA has filed lawsuits against several investment bankers, including Barclays Capital, Credit Suisse, Goldman Sachs, JP Morgan Securities and UBS Securities alleging securities law violations in the sale of MBS.
FHFA has been analyzing approaches for reducing Fannie Mae and Freddie Mac loan limits across the country, "and any such change would be announced with adequate advance notice for implementation on January 1, 2014" the regulator said.
Thomas Hoenig, vice chairman of the FDIC, said he is particularly interested in exploring the downpayment issue further. Securities investors are also likely to push for downpayment requirements for QRMs.
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