With more regulators looking over their shoulders, mortgage lenders began to turn down the volume on what has been the industry’s biggest growth engine over the past two years: alternative mortgage products. An estimated $236.0 billion... [Includes three charts]
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Federal banking and thrift regulators last week outlined a somewhat general approach to implementing newly issued guidelines on nontraditional mortgage lending, clarifying some key issues but still leaving lenders scratching their heads and many industry questions...
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The Office of Federal Housing Enterprise Oversight appears set to get in on the regulatory witch hunt on nontraditional mortgage loans by issuing a landmark directive on Fannie Mae’s and Freddie Mac’s involvement in this market. OFHEO Director James Lockhart last week indicated...
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This week, Countrywide Home Loans agreed to a settlement with New York State regarding racial disparities found in 2004 Home Mortgage Disclosure Act data. While Countrywide received a relatively light penalty, analysts suggest that the settlement, the first based...
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As the 109th Congress wrapped up what looks like its final week in session, lawmakers haggled over long-stalled legislation that would create a new regulator for Fannie Mae and Freddie Mac. But analysts predict that the flurry of negotiations only sets the tone for...
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Rep. Barney Frank, D-MA, the incoming chairman of the House Financial Services Committee, has a keen interest in mortgage-industry issues and will steer the committee to consider government-sponsored enterprise reform, federal preemption and FHA modernization in the...
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Thrift institutions bucked overall market trends and reported a small increase in new mortgage production during the third quarter of 2006, according to the Office of Thrift Supervision. OTS-regulated lenders originated some... [Includes one chart]
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