Eric Kaplan of the Milken Institute: “I don’t think the non-agency market is ready to absorb the market that’s taken away from the GSEs without some significant signaling in advance.”
The Mortgage Bankers Association is pressing the Consumer Financial Protection Bureau to make reform of the loan-originator compensation rule a top priority.
The current policy, issued in 2013, says the bureau will not approve a trial disclosure that weakens consumer understanding of valuable information, even if it improves cost effectiveness.