Ed DeMarco, president of the Housing Policy Council, said that while claiming to codify existing FHFA practice, the proposal “does not address FHFA’s practices related to fair housing and fair lending enforcement.”
“What you don’t want to have to do is sell those assets when rates are so much higher because you’re going to take a loss,” Teresa Bazemore, CEO of the Federal Home Loan Bank of San Francisco, said of bank holdings on MBS.
Wells originated $5.08 billion of conventional-conforming loans through the correspondent channel in the fourth quarter. In the first quarter, the bank’s production in the channel was down to only $500 million.
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