The Fed added $135.87 billion to its agency MBS holdings during the second quarter. That accounted for just over half of the growth in agency MBS outstanding during that period.
Chopra’s installation at the CFPB is expected to jumpstart rulemaking and enforcement efforts by the regulator. At his confirmation hearing in March, Chopra said his priorities include scrutiny of how mortgage servicers work with distressed borrowers.
Keith Lind, executive chairman and president of Acra Lending, an early pioneer in the sector, echoed Pallante’s view, noting there’s a new set of investors for non-QMs.