Policymakers looking for a model to replace the government-sponsored enterprises should look no further than the non-agency jumbo market, according to Rep. Jeb Hensarling, R-TX, chairman of the House Financial Services Committee. “We don’t have to look overseas to see a well-functioning housing market without GSEs,” he said at a hearing this week. “Prior to the housing bust, the jumbo market was approximately 20 percent of the total housing market. There was capital, liquidity, competition ...
The Structured Finance Industry Group said it had substantive discussions with staff members at the Securities and Exchange Commission this week regarding loan-level data formats for mortgages. The SFIG said it plans to work with the Mortgage Bankers Association to potentially enhance the MBA’s Mortgage Industry Standards Maintenance Organization data fields. The SFIG said it is considering pushing for MISMO standards to be used in the government-sponsored enterprises’ risk-sharing ... [Includes three briefs]
Speaking at a trade show gathering, the ABA's Chris Lewis urged bankers to educate upper management as well as front-line loan officers about the finer nuances of the Consumer Financial Protection Bureau’s ATR rule.
Bank of America recorded $10.45 billion of mortgage repurchases and indemnifications during the first quarter of 2013, according to a new Inside Mortgage Trends analysis of recently released call report data.
Roughly $148 billion of single-family agency MBS were issued last month, down almost 3 percent from April’s level. May was the slowest month for agency MBS issuance so far in 2013.
Among the many allegations, the plaintiffs charge that the seizure of Fannie and Freddie was “unlawful and unwarranted” and represents an unconstitutional violation of due process which cost investors billions of dollars.
RSS