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]
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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]
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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...
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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...
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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...
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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...
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