After the subprime mortgage crisis, renting is looking more appealing than ever and reshaping the outlook for residential mortgage lending. During a recent conference hosted by the Urban Land Institute in Washington, DC, many panelists agreed that single-family housing is becoming less popular, and more people are looking to...
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A steep decline in loan origination activity dragged mortgage banking income during the first quarter of 2011 to its lowest level in over two years, according to a new Inside Mortgage Trends analysis. Earnings reports filed by 21 major mortgage lenders showed aggregate mortgage banking income of $3.097 billion for... [Includes one data chart and one graph]
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The average mortgage banking business reported increased profitability in the fourth quarter of last year, but 2010 didn’t match the industry’s success back in 2009, according to the latest Mortgage Bankers Performance Report from the Mortgage Bankers Association. The average firm participating in the MBA survey reported...
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Using consumer behavior analytics, FICO said it has developed a method to profile so-called “strategic defaulters” in order to determine who is most likely to try to skip out on their mortgage loans. The credit-assessment firm, best known for its FICO credit score, said its research improves on...
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Even though only 14 servicers were ordered by federal regulators to change some of their practices, there is a general understanding that the rest of the industry will also have to adhere to some of the new standards just to keep up and avoid future problems, according to experts at a webinar hosted this week by...
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The two leading accounting standards-setting bodies have different approaches when it comes to how best to analyze the effectiveness of a mortgage lending or other financial hedging strategy. And as they seek to improve, simplify and harmonize their approaches, the mortgage industry has come out in support of...
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The quality of mortgages has been exceptional in the handful of non-agency mortgage securities issued over the past few years, but industry analysts question the sustainability of such high standards on a long-term basis as the mortgage market responds to change. “Recently originated prime jumbo loans reviewed by Fitch appear to be...
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