The CFPB wants to base QM status on a pricing metric rather than approval by the GSEs. Most mortgages would remain QMs but some business could shift to the non-agency market.
Pandemic-related market volatility in March dampened non-agency jumbo lending more than other sectors in the mortgage business. Conforming-jumbo production also fell sharply in the first quarter but began regaining momentum in April. (Includes three data charts.)
Warehouse credit flows downhill: from the financier to the nonbank lender to the consumer. But with the pandemic stoking new economic fears, some providers are tightening their standards, like market leaders JPM and FH.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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