In terms of new HELOC commitments for the second quarter, Bank of America led the pack with $2.77 billion, followed by Wells Fargo ($1.91 billion) and Citizens Bank ($1.50 billion).
“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.