The Federal Reserve Board and Securities and Exchange Commission on Wednesday both signed off on an interagency rule requiring securitizers to hold 5% of the credit risk on loans sold to investors.
Compliance costs are a wild card that is hurting profits.
Learn how one bank replaced its paper-based loan origination system with D+Hs Web-based MortgagebotLOS, and is keeping pace with compliance and customer needs.
Richard Davis says despite recently announced changes to reassure lenders about putbacks, he will stay on the sidelines due concerns about compliance and litigation risk.
Freddie Mac's securities have traded at a disadvantage to Fannie's for years. A $650 million subsidy ensures lenders will receive nearly the same price as Fannie pays for loans.
Cities in Texas and Washington in had the strongest housing markets in September, according to Pro Teck Valuation Services.
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