Home Loans Mortgage: MBA Expresses "Profound Concern" Over Risk Retention Proposals

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Mar 30, 2011 11:22AM

MBA Expresses "Profound Concern" Over Risk Retention Proposals

The Mortgage Bankers Association (MBA) reacted quickly to the publication yesterday of proposed rules governing Qualified Residential Mortgages (QRMs), the mortgages which will be exempt from the risk retention requirement of the Dodd-Frank Act. In a statement released by MBA yesterday afternoon, President and CEO John A. Courson said that it would take time for the Association to fully evaluate the complexity of the hundreds of pages of regulations, but its first reaction was a "profound concern...

Mar 30, 2011 10:05AM

Republicans Dive Head First into GSE Reform with Eight New Bills

The House Republicans who will ultimately have the most influence on the decision have come out with a plan for reforming the two government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. Scott Garrett (R-NJ) Chairman of the House Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises released what was actually a summary of eight bills , each covering a different aspect of reform and each introduced by a different member of the parent Financial Services...

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	"I think (at least in the eyes or larger banks) this will allow them (in a different market cycle) to offer products that the the little guys will not be..."
	"My non-conforming lenders already require a 20% down payment and a 36% back-end. And no lates in the past 24. So, really there is no change at all."
	"FHA, VA, USDA, FNMA, and FHLMC are all exempt... That covers 100% of what I closed last year and probably 2009 too, so I don't see any change. Only..."

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	"I'm looking for some feedback from real folks in the street that are either in a branch affiliate situation or considering one. I have 18+ years in..."
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	"Does anyone have any information on their new/upcoming comp changes. Preferably information for LO's from the big banks. Educated guesses are welcome..."