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Volume 2014 - Number 21

May 29, 2014

Momentum Builds for the GSEs to Be Preserved, FHFA Seen as New Leader on Mortgage Policy

A lack of overwhelming support in the Senate for legislation to reform the government-sponsored enterprises has shifted the housing finance policy debate from reform to preservation. If Congress fails to act, the Federal Housing Finance Agency is set to drive mortgage policy for years to come. Sens. Tim Johnson, D-SD, and Mike Crapo, R-ID, initially delayed the Senate Committee on Banking, Housing, and Urban Affairsí recent markup of S. 1217, the Housing Finance Reform and Taxpayer Protection Act, in an effort to increase support for the GSE reform bill. But they failed to gain favor with a number of liberal members of the committee, and the bill ultimately passed on a 13-9 vote seen as dooming prospects for comprehensive action on GSE reform in Congress. Sens. Chuck Schumer, D-NY, and Elizabeth Warren, D-MA, were...

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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.