Despite a drop in overall mortgage production in the first quarter of 2007, originations of interest-only home loans drove a modest 3.5 percent increase in alternative mortgage lending. A total of $239.0 billion of alternative mortgages were... [Includes three charts]
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Federal regulators are forcing a thrift institution and its corporate parent to set aside $178 million to compensate borrowers who may have gotten subprime home loans they couldn’t afford. The recently announced settlement between the Office of the Thrift...
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Although the cost of captive reinsurance arrangements with mortgage lenders can dampen MI profitability if loss rates are low, the structures can deliver protection and stable cash flows to participants during lean economic times, according to a new report...
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Federal thrift and banking regulators declined to include certain subprime hybrid mortgages in the recently issued disclosure samples for nontraditional mortgage products but assured stakeholders similar proposals will be published as soon as federal guidelines...
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Guidelines recently released by the American Securitization Forum endorse servicer efforts to modify subprime mortgages for borrowers grappling with payment problems, as long as the outcome is in the best interest of mortgage securities investors. “Any loan...
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The supply of residential mortgage debt outstanding grew at a modest 1.3 percent rate during the first quarter of 2007, although a shift toward more fixed-rate lending may be driving more business into the mortgage securities market. The Federal... [Includes one chart]
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The availability of high loan-to-value mortgages – even in the prime market – seems to be rapidly drying up in 2007. And it could take its toll on mortgage volume in the months ahead as borrower demand for certain mortgage products appears to be outstripping the...
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Rep. Maxine Waters, D-CA, and other lawmakers on the House Financial Services Subcommittee on Housing and Community Opportunity expressed optimism this week that the latest attempt at restructuring the federal flood insurance program would garner enough support to get...
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The first wave of staff reductions at Fannie Mae was announced internally last week, as the government-sponsored enterprise seeks to rein in administrative expenses. Sources familiar with the plan say the voluntary employee buyout aims to eliminate 600 jobs...
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Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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