Just in time for the big pull-back from mortgages evident in JPMorgan’s and Wells’ 2Q earnings, the FHFA’s Inspector General has laid out a set of risk worries about the GSEs’ growing reliance on non-bank sellers. Joining earlier fears about non-bank servicers, the FHFA and GSEs are apparently adding a series of new risk controls that could slow volume to them from these non-banks and, perhaps, give banks a bit of competitive breathing room.

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