Industry trade groups as well as analysts believe the proposed waiver pilot is purely a political gesture and will, in fact, expose borrowers and lenders to financial risk.
What does the stalled mortgage job market need? An interest rate cut by the Federal Reserve. Otherwise, limited hiring and layoffs will be the order of the day.
Housing Secretary Fudge resigns; IRS postpones controversial changes to IVES; regulators to alter Basel capital proposal; banking regulators waive appraisal requirements in Maui; feedback sought on bank call-report proposal.
Production of agency high-balance loans held up slightly better than the downturn in non-agency jumbo originations, but both sectors recorded big quarterly declines.
Wholesale-broker platforms took a significantly bigger share of the shrinking refinance market in 2023 as consumer-direct/retail volume lost ground. (Includes six data tables.)
If regulators take an aggressive stance, the final capital rule could be out by May. The other option would be to re-propose the rule, which could leave the rulemaking unfinished if there’s a change in administration.
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