Refinance application activity last week was the highest in nearly seven years, with more than triple the volume from one year ago, according to the Mortgage Bankers Association.
Large banks had huge losses from originating mortgages in 2018 as costs were three times higher than similar-sized independent lenders, according to research conducted by Stratmor and the Mortgage Bankers Association.
The Mortgage Bankers Association, National Association of Realtors and 26 other groups warned the agency not to pursue steps reducing the scope of Fannie Mae and Freddie Mac that could upset the mortgage market.
The Milken Institute's plan to address the housing finance system proposes a number of measures that could be carried out by regulators, after years of stalled legislative attempts.
The proposal by Fannie and Freddie’s regulator to impose bank-like capital requirements would be relevant only if the companies leave conservatorship. But that hasn’t stopped lenders from requesting changes.
Real estate and mortgage industry groups outspent proponents three-to-one to defeat Proposition 10, a measure to allow California municipalities to set local rent control laws.
