Addressing the annual convention of the American Bankers Association, the CFPB chief stressed that his agency is proceeding full speed ahead with the January implementation of its mortgage rules.
At least two young mortgage insurance firms hope to go public by yearend. But how might the market receive these deals with so much uncertainty surrounding the GSEs?
Through September $2.1 billion in originations by First Republic were included in jumbo MBS this year. The loans accounted for 17 percent of all non-agency jumbos securitized, according to exclusive figures compiled by Inside Nonconforming Markets.
Meanwhile, sources told Inside Mortgage Finance that the FHFA is looking to extract several billion dollars from Bank of America to settle claims that its Countrywide Financial division sold the GSEs toxic MBS.
According to one servicing advisor, large banks including Wells Fargo have been quietly selling excess servicing rights through private securitizations.