“The other natural job would be as CFPB director,” the Cowen analyst continued. “That said, Hensarling has shown much greater interest in housing finance…”
The trade group also found that refinancings are declining as well: down to 48.7 percent of all new applications from 49.5 percent for the week ending Oct. 20.
There continues to be some nervousness about VA receivables because of streamlined refinancings, although regulators are trying to curb abuses in the program.
Aggressive refinancing now occurs immediately after the six-month window has expired, as some of the activity may have shifted into the custom pool market…