Large parts of the Bay Area and Southern California qualify for the top high-cost limit, while other California markets such as San Diego ($546,250) and Sacramento ($474,950) have intermediate high-cost limits.
CFPB director Richard Cordray could be softening somewhat in response to the mortgage industrys plea for regulatory enforcement relief when the new rules take effect in January.
The letter to members of Congress is notable for which trade groups didn't sign on, including the American Bankers Association and Mortgage Bankers Association.
The city councils favorable vote represents a rare notch in the win column for MRP, which has suffered numerous defeats in local jurisdictions across the nation, likely at a substantial loss to the firms financial backers.
Two Harbors revealed that it sold several billions of dollars worth of agency MBS in the third quarter as the assets became less attractive with rising rates. The proceeds will be used to buy MSRs.