Some non-agency participants have called for an immediate return to conforming loan limits of $417,000, which were in place in 2008 before Congress established emergency loan limits for high-cost areas.
Confusion and uncertainty around representations and warranties standards continue to cause lenders to add their own overlays to the existing GSE credit standards, said MBA vice chairman Bill Cosgrove.
One of the best kept secrets in the servicing sector is a bifurcated mortgage program initiated by Fannie Mae that has been gathering momentum over the past six months.
Freddie filed repurchase requests on some $361.6 million of 2012 originations during the first quarter of this year, according to figures compiled by Inside Mortgage Trends.
The Congressman argues that if the two are not allowed pay down their draws from Treasury then any future funds sent" to the U.S. should be reinvested in the housing market.