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Inside Mortgage Finance

October 19, 2007

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Pessimism Dominates MBA’s Annual Convention With Volume Declines and Layoffs Predicted

The Mortgage Bankers Association did not have much good news to point to at its annual convention this week in Boston, but John Robbins, the group’s outgoing chairman, tried to put a positive spin on the previous year. He boasted that “no onerous predatory lending... Read More

Lenders Look to FHA as Subprime Replacement But Acknowledge the Transition Won’t be Easy

With subprime mortgage production down significantly this year and nearly at a standstill at the moment, lenders are beginning to look at the FHA as a viable option to increase volume. However, mortgage executives are wary of the hassles surrounding FHA originations... Read More

HMDA Data Provide Different, More Fragmented Picture of 2006 Mortgage Originations Landscape

The primary mortgage market last year was a markedly diverse environment in which the role of the giant loan aggregators was less dominant than is reflected in originator rankings. Lender reports filed under the Home Mortgage Disclosure... [Includes one chart] Read More

Democrats Propose Temporary GSE Cap Relief As Broader Reform Legislation Remains Stalled

With Congress now inching toward a temporary green light for Fannie Mae and Freddie Mac to use their portfolios to provide liquidity to subprime borrowers, the outlook for comprehensive reform of the government-sponsored enterprises is as muddled as ever... Read More

Proposed RESPA Reform Rule Likely to be Sent to OMB Soon

Barring any hitches, the Department of Housing and Urban Development expects to send a draft rule on Real Estate Settlement Procedures Act reform this week to the Office of Management and Budget for clearance. In remarks at the Mortgage Bankers Association’s... Read More

OFHEO Proposes Boost in GSE Risk-Based Capital; Conforming Loan Limit Won’t Go Down in 2008

The Bush administration’s proposal to toughen the risk-based capital formulas for Fannie Mae and Freddie Mac would bring the complex safety measure more into play for the two government-sponsored enterprises but would likely not result in any increase in their... Read More

Kanjorski Introduces Servicing, Appraisal Reform Bill, Calls for Mandatory Escrow of Taxes, Insurance in Subprime

House Democrats introduced legislation this week reforming mortgage servicing and curbing abusive and deceptive practices related to servicing and appraisals, especially in the subprime mortgage market. Rep. Paul Kanjorski, D-PA, chairman of the House Financial... Read More

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