Private mortgage conduits issued a solid $235.67 billion of new mortgage-backed securities during the third quarter of 2006, continuing to play a major role in the mortgage finance industry.But private conduit issuance was down 6.5 percent from the previous quarter, suggesting...
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After years of waging an uphill struggle against piggyback financing arrangements, private mortgage insurers won a small victory when federal regulators issued guidance on nontraditional mortgages that discourages the imprudent use of simultaneous seconds with such loans...
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Mortgage production became more expensive and generated less revenue in 2005, but the average mortgage banker reported a modest gain in net income for the year, according to the annual cost study recently released by the Mortgage Bankers Association. Average pre-tax net financial income rose from...
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Sharp increases in the production of jumbo mortgages and higher-cost loans helped pace the 18.2 percent jump in loan originations reported in 2005 under the Home Mortgage Disclosure Act. A new analysis of 2005 HMDA data by Geosegment Systems of Nashua, NH, reveals that jumbo loan originations increased...
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Officials at the Department of Housing and Urban Development are hopeful that Congress will still enact higher FHA loan limits and other modernization measures backed by the Bush administration when lawmakers wrap up unfinished legislative business during...
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Fannie Mae and Freddie Mac easily cleared the supposedly tougher major affordable housing goals set for them by the Bush administration in 2005, but the new “subgoals” for home-purchase loans are proving a little more challenging.The Department of Housing and Urban Development this week reported...
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Mortgage lenders that have suffered millions of dollars in losses due to mortgage fraud have a far better chance of getting their case investigated and prosecuted by the federal government than lenders that have lost far less, industry attorneys and federal investigators say. Limited resources and manpower...
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In the September 8 issue of Inside Mortgage Finance, we failed to note that the production volumes of conventional conforming, FHA/VA and jumbo mortgages for... In the September 15 issue, there were some errors in the foreclosure data reported for some lenders...
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Many thrift institutions reported record profits again last year, which translated into raises for most employees. A recent survey of thrift compensation found that 91 percent of thrift employees received a raise last year.The survey, by America’s Community Bankers, found that thrift employee base salaries increased...
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