Banking regulators acknowledged problems with the foreclosure reviews conducted by the nation's megabanks and have agreed to evaluate the use of independent consultants in regulatory actions.
Democrats in Congress have raised concerns about how five banks have responded to new servicing standards included in the $25 billion national servicing settlement.
Rep. Maxine Waters, the ranking minority member of the House Financial Services Committee, believes that now is "precisely the time to think about how we can reshape the secondary mortgage market."
This past fall the Mortgage Bankers Association was pushing for a housing policy coordinator in the White House to ensure that federal regulations complement one another rather than conflict.
Two-thirds of the nearly 2,000 real estate agents that responded to a Campbell Communications and Inside Mortgage Finance survey want mortgage closings in 30 days or less.
Just how hot is the jumbo MBS market? Consider this: Some $3.95 billion in non-agency jumbo MBS was issued in the first quarter, compared with $3.46 billion in issuance in all of last year.