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Inside Mortgage Finance

January 25, 2008

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Fannie and Freddie Cast Enormous Shadow As Mortgage Production Slowed in Late 2007

With the non-conforming mortgage market in a tailspin, overall mortgage production during the final three months of 2007 sank to its lowest level in nearly seven years. According to a new Inside Mortgage Finance analysis... [Includes one chart and one graph] Read More

Countrywide Claims Fourth Consecutive Top Lender Ranking as Market Becomes More Consolidated

Countrywide Financial ranked as the top mortgage originator in the market again in 2007, notching its fourth straight title in a year that saw widespread lender collapse and increasing consolidation.Countrywide reported $408.23... [Includes one chart and one graph] Read More

Dodd Seeks to Include ‘Foreclosure Rescue’ Agency, FHA Reform, Higher Loan Limits in Stimulus Package

Sen. Chris Dodd, D-CT, chairman of the Senate Committee on Banking, Housing and Urban Affairs, said he will push for foreclosure avoidance provisions, FHA modernization, and a temporary increase of the conforming loan limits in any short-term legislative package... Read More

Subprime Loan Modifications Increasing As Troubled Borrowers Contact Servicers

Subprime loss mitigation efforts appear to have been underwhelming in the third quarter of 2007 but picked up steam as the year ended. Loan modification statistics recently released by Hope Now and the Mortgage Bankers Association paint an evolving but murky picture... Read More

KPMG’s Interpretation of Loan Modifications Could Boost Non-performing Assets, Loss Reserves if Adopted by Industry

Modified loans that are not re-underwritten could trigger a “troubled debt restructuring” treatment and be subject to reclassification as non-performing assets – and higher provisions of loss reserves – by outside auditors. Although this accounting... Read More

GSEs Could Take a $16 Billion Subprime Hit When Fourth Quarter Results are Released

Fannie Mae and Freddie Mac may continue to face capital constraints if the two government-sponsored enterprises have to take hefty writedowns on their subprime holdings. A new Credit Suisse investor report suggests that Fannie and Freddie combined could take as... Read More

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