Ed DeMarco on The FinReg Podcast: Do Nonbank Mortgage Companies Threaten Financial Stability?

Thoughtful and informative interview with HPC’s President Ed DeMarco on this deep dive podcast.

Many great points, especially the under-appreciated role of the federal government in driving the growth of independent mortgage banks by pushing commercial banks out of the mortgage space. Also explains a key omission from FSOC’s 2024 report on nonbank mortgage servicing - changes to loss mitigation at the Federal and state level initiated during the Great Financial Crisis contributed to the liquidity concerns identified in the report.

Have a listen!