The government’s heavy footprint in the residential mortgage market shifted slightly in 2010 as the FHA and VA programs gave back some market share and the government-sponsored enterprises captured a smaller slice of the conventional conforming business. In 2009, Fannie Mae and Freddie Mac issuance of single-family mortgage securities backed by newly-originated loans accounted...[Includes three data charts]
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Lenders that want fewer repurchase requests from Freddie Mac should zero in on the loan origination process to curb the most common underwriting deficiencies that the government-sponsored enterprise spots during its quality control reviews, according to a GSE official who participated...
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Treasury Secretary Tim Geithner avoided picking a favorite from the various alternatives for a post-Fannie/Freddie mortgage market during a House hearing this week, but he did note that a system with an inadequate degree of government presence would be dangerous to the market, and the FHA won’t be able to support...
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As federal regulators continue to hash out what is expected to be a pricey penalty imposed upon some of the industry’s biggest mortgage servicers, lenders are circling the wagons and warning their investors to brace for some bad news. The regulators remain...
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Banks posted their second straight year of robust earnings on their mortgage-banking activities during 2010, although profit margins appeared to be squeezing tighter. Call report data analyzed by Inside Mortgage Trends, an affiliated newsletter, show...[Includes one data chart]
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The industry-wide flight to origination quality that emerged after the mortgage market flamed out continues to lift Fannie Mae and Freddie Mac closer to sea level, but neither firm can hope to reach dry land while anchored by the government’s preferred stock dividend obligation. Fannie actually reported...
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HUD Secretary Shaun Donovan said the Obama administration’s efforts to help distressed homeowners are having a positive impact on immediate problems. During a hearing in the House Financial Services Committee this week, the Department of Housing and Urban Development chief said Congress should consider...
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The Obama administration has done very little since the last congressional hearing to improve the Home Affordable Modification Program to convince critics that the program is worth the billions of taxpayer dollars set aside to fund it, according to government auditors. In testimony before...
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We have updated the Large Mortgage Servicer Delinquency Rate table published in the Feb. 4, 2011 issue of Inside Mortgage Finance to correct some errors and add data from more servicers.
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