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Volume 2 - Number 23

November 6, 2009

Downloads Available: View the attached file (in pdf format)


FHA Market Share Back on the Rise in 3rd Quarter

The slice of total mortgage originations that was FHA-insured in the third quarter of 2009 jumped significantly from the first two quarters of the year, nearing the record levels set by the program in late 2008. Through the end of September, the FHA share of total originations was 25.4 percent, up from around 18 percent in the first and second quarters, according to an Inside FHA Lending...

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Poll

What is it going to take to convince lenders to loosen the credit box (i.e., remove underwriting overlays)?

The recent rep and warranty changes announced by the Federal Housing Finance Agency should go a long way in protecting lenders from future buybacks and help expand mortgage credit.
There won’t be any significant elimination of underwriting overlays until the government stops seeking huge mortgage-related penalties and settlements from lenders.
There shouldn’t be any expansion of the mortgage credit box since looser underwriting is what caused the recent mortgage crisis.

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