“The QM patch expiration presents an opportunity for regulators to streamline certain rules to put the housing-finance sector on the best possible footing going forward,” Redwood said.
While most in the industry held back their comments, Milken Institute Director Eric Kaplan said the plan’s focus on capitalization of Fannie Mae and Freddie Mac makes it looks like the release of the GSEs is really in the cards.
“The QM patch expiration presents an opportunity for regulators to streamline certain rules to put the housing-finance sector on the best possible footing going forward,” Redwood said.
The Pennsylvania AG opened a redlining investigation last year following a news report that white borrowers in Philadelphia received 10 times as many conventional mortgage loans as African-American borrowers.
The organization’s largest sources of revenue — by far — are its annual convention and the cash it takes in from membership dues: $30.4 million and $24.3 million, respectively.
Bob Garrett, executive vice president in charge of warehouse finance at First Tennessee Bank, said he’s seen some competitors that are so overwhelmed with demand they’re turning away business.