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Inside Mortgage Finance

March 16, 2007

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New GSE Bill Updates Regulatory Authority Over New Products, Revamps Affordable Housing Plan

A new bipartisan bill to reform oversight of the government-sponsored enterprises features a revised attempt to address the growth of new business activities at Fannie Mae and Freddie Mac as well as a fresh approach to a new affordable housing obligation for... Read More

Mortgage Delinquencies Jump Higher in 4Q06 As Credit Quality Erodes in All Categories

Mortgage delinquency rates rose sharply in the fourth quarter of 2006, hitting their highest levels in the past few years. The Inside Mortgage Finance Large Servicer Delinquency Index jumped more than 50 basis points in the fourth quarter... [Includes one chart] Read More

Fed Pushing to Expand Statement on Subprime Hybrid ARMs to Cover Prime, Alt A Hybrids

The Federal Reserve last week tipped its hand on what it hopes to do with the recent interagency “statement” on subprime hybrid-adjustable mortgages. Outgoing Fed Governor Susan Bies suggested that the Fed wants to extend the guidelines to prime ARMs as well... Read More

New Century, the Second-Ranked Subprime Lender, Stops Accepting Loan Applications

New Century Financial looks to be gasping its last breaths as its funding has dried up, rendering it unable to accept loan applications. Additionally, the company is facing a number of investigations and its stock was de-listed from the New York Stock Exchange... Read More

Prime Lenders Isolated from Subprime Woes, But Alt A Sector in Danger, Analysts Suggest

Default rates are rising across the mortgage industry, but it’s unclear whether the trauma that has caused such severe upheaval in the subprime sector will spread to the Alt A and prime markets. In his monthly outlook, Frank Nothaft, Freddie Mac’s economist... Read More

Securitization Became More Popular Funding Strategy In 2006, But GSE Programs Played a Smaller Role

Mortgage lenders relied more heavily on the mortgage securities market to finance their operations in 2006, according to a new Inside Mortgage Finance analysis. A total of $2.02 trillion of newly originated loans was... [Includes one chart] Read More

Experts See No Trend in FDIC Action on Fremont but Fear Tightening Could Revive Fair Lending Concerns

With rising delinquencies and foreclosures fueling the turmoil in the subprime mortgage market, regulatory oversight is reemphasizing more conservative underwriting standards – raising fears among compliance experts of a return to lending disparities and access-to-credit... Read More

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