$11 Trillion U.S. Mortgage Market Has a Shadowy New Player

Bloomberg, Nov. 5, 2019–Rich Miller
Financial regulators led by the Treasury’s Steven Mnuchin and the Federal Reserve’s Jerome Powell have been put on notice about the risk of an economically damaging cash crunch in the $11 trillion home mortgage market. Mortgage Bankers Association chief economist Michael Fratantoni played down the danger of an economically-damaging liquidity squeeze. “We think it’s something that can be managed,” he said.