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Inside Mortgage Finance

November 24, 2006

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Correspondent Channel Keeps Growing in Third Quarter, Despite Overall Market Weakening

Wholesale mortgage lenders increasingly turned to correspondent production programs during the third quarter, according to a new market analysis and ranking by Inside Mortgage Finance. While overall mortgage originations were... [Includes 5 Charts] Read More

Gottfried’s Departure from HUD Dims Chances of Seeing RESPA Reform Proposal in the Near Future

The Department of Housing and Urban Development’s attempt to streamline the mortgage settlement process apparently suffered another setback with the abrupt resignation of HUD General Counsel Keith Gottfried in connection with allegations that agency contracts were... Read More

HUD May Have Hit a Dead End in Effort to Hire Outside Experts to Study GSE Mission Compliance

The Department of Housing and Urban Development in June launched an effort to hire outside law firms to bolster its oversight of charter compliance by Fannie Mae and Freddie Mac, but the project has apparently stalled. A source told Inside Mortgage Finance that... Read More

Lenders to Increase Spending on Mortgage Fraud Protection in Increasingly Suspicious Market

Lenders are prepared to ramp up their spending on mortgage fraud detection even though the systems are fairly expensive and offer limited accuracy during origination, according to a recent survey by Fannie Mae. Most lenders spend relatively little on... Read More

Mortgage REIT Wheat and Chaff More Apparent as Earnings Drop in Third Quarter

Performance by the top residential mortgage REITs varied drastically in the third quarter, with New Century and American Home Mortgage dominating the sector while a number of other REITs faired poorly.Originations by mortgage REITs are up... [Includes a chart] Read More

Freddie Mac Simplifies its New Home Construction Loan Program; Revisions Benefit Hurricane Areas

Freddie Mac this week released a set of guidelines that officials say will clear up a lot of confusion about the investor’s new home construction financing program. The government-sponsored enterprise also hopes that the revised criteria will turn the home-building... Read More

Fannie Gives Up Patent Rights for Mortgage Design System, Suggest Cooperative System

Fannie Mae this week announced that it would make its controversial patent on a system to design customized mortgages available to lenders “on a non-exclusive and royalty-free basis.” Seven major mortgage lender groups had urged the ... Read More

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