A number of lenders say they are tightening their underwriting for alternative mortgage products, but some analysts suggest that lenders might be saying one thing and practicing something different because purposefully reducing production can be difficult...
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Adjustable-rate mortgages continued to comprise the majority of loans pooled in Alt A mortgage-backed securities in 2006. The ARM share fell back slightly in the fourth quarter, possibly due to rising interest rates... [Includes three charts and one graph]
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The affordable mortgage products often employed to get a borrower more home for the money are drawing scrutiny from regulators, investors and even lenders. Participants at the American Securitization Forum’s 2007 conference this week in Las Vegas warned that...
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New Century Financial Corporation’s new Alt A wholesale program has hit some bumps on roll-out, but the lender hopes the program will soon fill the gaps from a tightening of its subprime underwriting guidelines. Speaking at the American Securitization Forum’s...
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The Conference of State Bank Supervisors suggested that one of the best ways to dampen the booming nontraditional mortgage market is to subject brokers and lenders to a national licensing regime.In testimony this week before the California State...
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Fitch Ratings has reinvigorated its scrutiny of payment option adjustable-rate mortgages now that many borrowers that have them face resets, reported Kathleen Tillwitz, senior director. “You have hundreds of thousands of borrowers who have been making payments...
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The alternative loans initially meant for wealthy borrowers with strong credit profiles are increasingly finding their way into the subprime lending business. That’s one of the key findings contained in a major new study of the subprime mortgage market released...
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