If past is prologue, Federal Housing Finance Agency Director Mel Watt might be on the job a lot longer than Jan. 6, 2019, which is when his five-year term expires. That is, if he wants to stay.
Compared to March 2017, the combined nonbank servicing business was up 14.7 percent, while banks in the top 50 saw a 2.4 percent decline from a year ago.
Due to temporary standards established by the CFPB, mortgages eligible for sale to the GSEs are treated as qualified mortgages even if they have higher debt-to-income ratios that would otherwise make them non-QMs…