States with high usage of the SALT deduction have seen "acute" slowdowns in home price appreciation (and even declines) since the limitation on the deduction took effect.
Originations of ARMs increased during the third quarter but they didn’t keep pace with total first-lien production, prompting a loss of market share for the sector. Wells remained the top ARM lender. (Includes data chart.)
IO lending increased in the third quarter, with First Republic leading the pack. The bank held nearly $30 billion of IOs in portfolio as of September-end. (Includes data chart.)
Issuance could increase by about 2%, helped by strong demand from investors for vehicle ABS. Loan performance, however, is expected to slip, according to industry analysts.
The review will consider the interplay between the non-agency market and the GSEs and the impact of the exemption for qualified residential mortgages...