Investor appetite for “alternative” mortgage loans remained tepid in early 2008, but interest-only loan programs appear firmly rooted at Fannie Mae and Freddie Mac. Only about $44.5 billion of alternative mortgage loans were originated during the first quarter of this year, down 43 percent from the previous three-month period, according to... [Includes three charts]
Read More
The Department of Housing and Urban Development vowed to finish its task of streamlining its Real Estate Settlement Procedures Act rules “before the end of the [Bush] administration,” although a White House directive to all agencies states that all regulations must be finalized by Nov. 1. In remarks launching National Homeownership Month this week, FHA Commissioner...
Read More
Senate and House leaders are making a determined effort to pass in short order an omnibus housing bill that includes long-sought reform of the government-sponsored enterprises and a new FHA program to bail out underwater mortgages. One of the major sticking points continues to be a disagreement over just how high a permanent increase in the conforming loan limit should...
Read More
Two major providers of seller-funded downpayment assistance have warned that a government announcement this week to reopen a proposed rule banning seller-funded downpayment assistance for FHA loans would deny homeownership opportunities to many qualified...
Read More
The head of the Federal Deposit Insurance Corp. late last week renewed her suggestion that Congress enact a foreclosure-prevention program to augment an FHA refinance program currently under consideration by lawmakers. But FDIC sources acknowledge the...
Read More
Thrift mortgage originations dropped by 20 percent from the fourth quarter of 2007 to early this year, a period when overall loan production levels were rising. The Office of Thrift Supervision said institutions it oversees originated $115.24... [Includes two charts]
Read More
Fitch Ratings has become increasingly pessimistic about the private mortgage insurance industry and this week downgraded Mortgage Guaranty Insurance Corp., PMI Mortgage Insurance Co., and Republic Mortgage Insurance Corp., while putting Genworth Mortgage...
Read More