Home Equity Loans
Browse articles from all of our Newsletters related to Home Equity Loans.
November 21, 2014 - Inside FHA Lending
The economic value of the FHAs Home Equity Conversion Mortgage legacy portfolio fell to negative $0.9 billion in fiscal 2014 due mainly to volatility in long-term house prices and interest rates, according to the latest independent actuarial report on the health of the Mutual Mortgage Insurance Fund. The latest result was a significant improvement from FY 2012, when the fund stood at negative $2.8 billion. In fiscal 2013, the HECM portfolios economic value of positive $6.5 billion appeared to be a whopping change from the previous year but that amount reflected a $4.6 billion cash infusion from the forward program and from the $1.7 billion mandatory appropriation, the report clarified. The report also showed a corresponding decline in the HECM capital ratio to negative 1.20 percent. Actuarial projections for fiscal 2015 place the HECM portfolios economic value at negative $1.1 billion. The funds capital resources for ...
November 21, 2014 - Inside FHA Lending
FHA Mutual Mortgage Insurance Fund ended fiscal 2014 in the black but was still far short of its statutory reserve requirement, prompting critics in Congress to renew their cries for FHA reform. An independent actuarial report sent to Congress this week showed that the MMI Fund now stands at $4.8 billion after a gain of nearly $6 billion over the last year. For the first time since 2009, the funds capital ratio also crossed into positive territory at 0.41 percent, up 52 basis points from the negative 0.11 percent posted in fiscal 2013. Overall, the economic value of the fund has risen by $21 billion over the last two years because of the aggressive steps the agency took to stabilize and strengthen the fund, the report said. Policy changes led to improved underwriting for single-family mortgages, increased mortgage insurance premiums, stronger loss mitigation policies and higher recoveries, it added. In addition, with ...
November 20, 2014 - Inside Mortgage Finance
Mortgage originations increased in all the major product categories during the third quarter of 2014, although new adjustable-rate mortgage lending was down slightly. A new Inside Mortgage Finance analysis shows that conventional-conforming originations increased by 11.7 percent from the second quarter to the third. That was slightly faster than the 10.2 percent increase in jumbo production and the 10.1 percent rise in government-insured lending. The home-equity market showed...[Includes two data charts]
October 24, 2014 - Inside FHA Lending
Ginnie Mae this week provided new details to the long-anticipated plan for increased issuer net worth and liquidity and a new performance scoring method for issuer activity changes that could adversely affect small issuers and portfolio servicers. In remarks at the Mortgage Bankers Associations annual convention in Las Vegas, Ginnie Mae President Ted Tozer said the changes are part of a larger effort to ensure the continuing flexibility and availability of the agencys mortgage-backed securities program to as many entities as possible. New types of issuers and counterparties have entered the agency-backed MBS market in the wake of the financial crisis, which called for adjustments and tailored approaches to the evolving housing finance market, Tozer noted. Tozer said both policy changes and staff expertise will ensure the success of ...
- GSE Private Mortgage Insurance Profile 3Q14
- GSE Seller Profile: 3Q14
- Mortgage Profitabiilty 2Q14
- Top Players 2Q14
- Agency Condo Market: 2013
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 wont be any significant elimination of underwriting overlays until the government stops seeking huge mortgage-related penalties and settlements from lenders.
- There shouldnt be any expansion of the mortgage credit box since looser underwriting is what caused the recent mortgage crisis.
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