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In a transformative month for mortgage policy, the regulatory and legislative pendulums in Washington have begun to swing. Don’t miss these landmark developments aiming to modernize the homebuying lifecycle and revitalize residential lending in Pennymac’s latest Policy Pulse:
- Basel III Endgame Re-Proposal: Regulators released a sweeping re-proposal on March 19 that replaces the 2023 capital hike with meaningful relief for the largest banks. It introduces LTV-based risk weights and removes the punitive MSA capital deduction cliff, though the treatment of warehouse lines and PMI warrants further engagement.
- 21st Century ROAD to Housing Act: The Senate passed landmark bipartisan housing legislation 89-10, securing wins for manufactured housing and NEPA streamlining
- White House Executive Orders: Two EOs signed March 13 direct the CFPB to modernize ATR/QM and TRID rules, expand appraisal waivers, and accelerate digital closing adoption. Pennymac urges policymakers to ensure these reforms apply marketwide to maximize the affordability impact for all borrowers.
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