Last summer, the Office of the Comptroller of the Currency issued an advisory concerning warehouse lines of credit that was all but ignored by most players in the market. That is, until now. In a research note, Keefe, Bruyette & Woods said the new OCC rules could force Texas Capi-tal Bank to increase the risk weighting of its warehouse lines to 100 percent, from its current designa-tion of 37 percent.
At the end of the year, banks and thrifts serviced $5.323 trillion of home mortgages for other investors, giving these MSRs an asset value of $41.43 billion.
The Senate Banking Committee, as expected, approved the nomination of Richard Cordray to head the CFPB, but Republicans are not happy about the structure of the young agency.