TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/106030
Final Thoughts "Our economy cannot withstand rules that inadvertently create new pockets of risk . . . . No one can be happy about where the reform process stands." Tim Ryan, CEO of the Securities Industry and Financial Markets Association, sharing his opinion on the mortgage industry's regulatory environment Final Thoughts Future-focused commentary on the mortgage banking industry revealed that housing finance remains at the forefront for those leading the nation's economic recovery. "[I]nvestors' appetites will eventually taper off . . . . And while large investors may continue to benefit even if housing prices continue to climb, home-ownership will become an even more distant hope for many buyers if underwriting standards remain at their current levels." DBRS, commenting on the factors that may slow the market's recovery in 2013 "We do not expect major market reform through Congress in 2013, but we expect FHFA to continue to make changes at the regulatory level, including raising guarantee fees." Keefe, Bruyette & Woods, on 2013 projections for the housing and mortgage industries "Considering that it's been the housing market that's pulled the U.S. out of virtually every recession since World War II, it seems like we should be shifting our focus to stimulating it in any way we can rather than doing anything that might knock it down." Rick Sharga, EVP of Carrington Mortgage, explaining his the importance of maintaining the mortgage interest tax deduction 80 | The M Report "We expect value gains to continue into 2013 . . . . We can expect a continued slow transition to a more normal housing environment driven by local market fundamentals and conditions." Stan Humphries, chief economist for Zillow, on housing's near-term outlook "In the context of active federal and state investigations into possible LIBOR manipulation . . . we believe that further investigation of the potential harm to Fannie Mae and Freddie Mac—and therefore to Treasury and, ultimately, the American taxpayer—is firmly warranted." Office of the Inspector General of the Federal Housing Finance Agency, in a report evaluating the government-sponsored enterprises' losses in last year's international rate scandal