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Big Banks Could Get Back in Mortgage Market; Rates Inch Higher; Implications of Aging-in-Place for Housing

Big Banks Could Get Back in Mortgage Market; Rates Inch Higher; Implications of Aging-in-Place for Housing

For the past six years, there has been a quiet revolution in the mortgage market: Big banks like JPMorgan (NYSE: JPM) , Bank of America (NYSE: BAC) and Citibank (NYSE: C) have moved out and nonbank lenders such as Quicken, loanDepot and Caliber Home Loans have moved in — in a big way. The revolution went largely unchallenged, but that may be about to change if the Trump administration removes regulations on the big banks and stops sending bad loans back to the banks for repayment. Deregulation would open the door for big banks to move back in. Paul Miller, a banking analyst at FBR Capital Markets, said he believes big banks will return to the market, "but they will need solid protections on reps and warrants" — the financial due diligence that's done on both sides of the transaction
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