“Under the new regulations, so long as Freddie Mac and Fannie Mae stay in conservatorship, banks will be able to continue to sell them mortgages without having skin in the game.”
That quote, taken from financial media reports on yesterday's new rules for “qualified residential mortgages” (QRM’s) says it all, particularly with 90% of all mortgages today being purchased by the Agencies. ---Proprietary source.
I've been saying this in different ways for quite a while. (recently)