Nierenberg, a former Bear Stearns executive, stressed that New Residential is going to be relatively conservative with its underwriting standards for non-QMs.
Stan Kurland: “We expect to see consolidation in the mortgage market, and successful firms will be the ones that have the size, scale and technological capabilities to compete."
John Ryan, president and CEO of the CSBS, compared the potential impact from the fintech charter to issues involving federal preemption of state laws in the lead up to the financial crisis.