Mortgage production swerved sharply toward the retail channel in the second half of 2007 as housing markets deteriorated and lenders took steps to shore up loan quality. A new ranking and analysis by Inside Mortgage Finance reveals... [Includes five charts]
Read More
It’s going to take some time before lenders can start delivering “jumbo” mortgage loans to Fannie Mae and Freddie Mac under a temporary boost in the conforming loan limit signed into law this week by President Bush. The two government-sponsored...
Read More
The Bush administration will soon unveil its latest proposal to enhance mortgage disclosures, but it’s uncertain when the plan will be finalized or – more importantly – how it may fit in an evolving and complex puzzle of new consumer protections. The Office of...
Read More
The federal government has put great faith into the American Securitization Forum’s streamlined modification program and initial results related to the framework are due shortly. The feeling seems to be that use of streamlined mods will be limited, at...
Read More
Six major mortgage servicers this week launched a program to delay foreclosures for certain borrowers to try to work out a loan modification. Project Lifeline includes participation by Bank of America, Citigroup, Countrywide, Chase Home Finance, Washington...
Read More
As concern increases that the private sector’s efforts to use loan modifications to head off a potential foreclosure crisis across the country may not be producing the result desired by policymakers, pressure is now mounting on Fannie and Freddie to provide more...
Read More
The private mortgage insurance industry will continue to be hurt for years from the deteriorating mortgage market environment, as the meltdown that began in the subprime sector has now leapt its banks and is flooding into the Alt A, home-equity and other sectors...
Read More
Freddie Mac this week imposed temporary limits on the amount of new risk that private MIs can cede to captive reinsurance units sponsored by lenders. Beginning June 1, MIs can cede no more than 25 percent of gross risk or premiums to captives. The policy does not...
Read More
Can federal policymakers help fix the collapsing U.S. housing market or could their efforts make things worse? Participants at a forum hosted by Women in Housing and Finance last week suggested that the government’s responses to the problems are likely to have mixed...
Read More
While mortgage industry experts warn that allowing bankruptcy courts to cram down home mortgages would lead to higher interest rates and tighter underwriting, a new study reports that allowing bankruptcy modifications of mortgages would have little or no impact on the...
Read More