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Volume 17 - Number 22

November 3, 2017

Congress Taking Heat for Not Acting on Housing Finance Reform

In round two of a House Financial Services subcommittee on Housing and Insurance hearing this week, housing finance reform talks shifted from small lender access to getting the GSEs out of conservatorship. During his testimony, Mortgage Bankers Association President and CEO David Stevens called the extended conservatorship, which is fast approaching a decade, economically and politically unsustainable. “The time to act on comprehensive legislative reform is now,” he said. While Stevens acknowledged that the Federal Housing Finance Agency has taken positive steps as conservator, he reiterated his view that only Congress can provide the “legitimacy and public confidence needed for long-term stability in both the primary and secondary markets.”

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Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.
No. It’s still difficult compliance/regulatory-wise.
Maybe. It’s under consideration.
Not now. But things could change as 2018 progresses.

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