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Inside Mortgage Finance

April 6, 2007

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Nonprime Market Turmoil May Be Helping Fannie and Freddie Regain Market Share

The upheaval in the subprime mortgage market doesn’t appear to be hurting business at Fannie Mae and Freddie Mac as both government-sponsored enterprises posted solid increases in mortgage-backed securities production during the first... [Includes three charts] Read More

MBA Calls for Cautious Approach to FHA Reform, Even as New Bills Tout Remedies to Program’s Ills

The mortgage banking industry has urged Congress to be cautious in deliberating on FHA reform proposals to avoid anything that might hinder the passage of legislation this year or put the single-family insurance program in financial peril. But the two new bills... Read More

New Century Files for Bankruptcy as Most Mortgage REITs Falter in 2006

After weeks of financial distress, New Century Financial threw in the towel this week and filed for Chapter 11 bankruptcy. The lender has an agreement to sell its servicing platform and also hopes to sell its origination unit and loan portfolio... [Includes one chart] Read More

Private MIs Grapple with Rising Default Rates, Fallout from Turmoil in Subprime Market

Private mortgage insurers – to varying degrees – are being swept up in the mayhem over rising default rates in the subprime market, even though the credit enhancement business could see increased demand for its products in a more conservative underwriting environment... Read More

GSE Reform Maneuvers Continue as Industry Targets HMDA Provisions; Senate Prospects Far From Certain

Legislation to overhaul the regulation of the mortgage government-sponsored enterprises has passed out of the House Financial Services Committee, and most eyes are already looking towards the Senate, where the bill’s future is hard to predict. The mortgage industry... Read More

Credit Problems Begin Cropping up In Alternative A Mortgage Sector

Credit problems that have created so much turmoil in the subprime market may be seeping into the Alternative A arena as several lenders this week took steps to shore up their Alt A business.IndyMac is preparing to discontinue a number of its option ARM loan... Read More

Servicers Extending Amortization Periods to Help Delinquent Borrowers

As servicers pursue loan modifications to help remedy delinquent loans, amortization periods are much more likely to be modified than interest rates. Additionally, servicers are upping the incentives they offer to avoid foreclosures. During an audio conference last... Read More

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