Eminent Domain Fade? Thoughts on GSE Capping Volumes; An Informal List of Bank Exams - Holy Smokes!

Mortgage bankers continue to ruminate on the potential move by the agencies to limit sales volume based on net worth: "I believe that F and F capping volume for newly approved mortgage banks using capital levels and grandfathering in older ones will increase counterparty risk. It would stand to reason that a grandfathered mortgage bank will put the pedal to the medal and take advantage of their newly anointed quasi-monopoly status. Given it now takes years to become an approved seller-servicer by the agencies I believe counterparty risk will go up for the agencies in the mid-term. Also, the issue of change of control comes into play. If a mortgage bank's ownership changes by 51%, will it be considered a new mortgage bank for cap purposes? This can get really messy.''