FHFA Director Mark Calabria hopes to finalize the GSE capital rule before yearend. But the proposal is so controversial that many industry watchers said it most likely won’t survive a change in administration.
Nonbanks in the process of making their public debuts note that the refi boom (probably) won’t last forever, and they could eventually face financial difficulties making servicing-advance payments for loans in forbearance.
The coronavirus economic assistance package is signed, sealed and delivered but concerns remain over the ability of nonbanks to pay MBS holders in the event delinquencies spike over the short term.
Trade groups are wary that any capital rule issued after May could be over-turned if Democrats win the White House and control of Congress in the next election.
The inconsistency between the scope of Ginnie Mae’s loan seasoning guidance and VA’s cash-out interim final rule may require a legislative change, according to Ginnie Mae.
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