Federal regulators have delayed their review of risk-retention requirements until next year. Also, most regulatory actions planned for MBS and ABS fall into the “long-term” category.
After an initial public offering involving Quicken Loans and affiliated companies is completed, founder Dan Gilbert will retain 79% of the voting power in the common stock of the new entity, Rocket Companies.
Delinquencies are leveling off and forbearance requests have declined. On the other hand, expanded unemployment benefits are ending and cases of coronavirus infection are increasing.
The nonbank took a large loss in the first quarter and halted production. Officials at the firm are now betting on originating GSE-eligible mortgages through call centers to return to profitability in the third quarter.