The Fed will soon issue a proposal to loosen capital requirements for bank holdings of mortgage servicing rights and a proposal loosening capital requirements for mortgages held in portfolio by banks.
The increase in issuance occurred across several categories, including a 79.2% surge in volume tied to loans eligible for sale to the government-sponsored enterprises.
David Spector, CEO of Pennymac Financial Services, said the firm’s correspondent aggregation platform is facing increasing competition from the GSEs’ cash window.
Rep. French Hill, R-AR, the chair of the House Financial Services Committee, was critical of initiatives by Bill Pulte, director of the Federal Housing Finance Agency.