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Inside Mortgage Trends

March 23, 2007

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Aggressive Servicing Strategies, Improved Data Analysis Can Cut Impact of Defaults

Strategic management can reduce the fiscal impact of increasing mortgage delinquencies, and at least one analyst thinks subprime servicers are prepared for the deluge. In a recent report, Standard & Poor’s analyst Robert Mackey said he is “confident that servicers... Read More

Technological Solutions Can Play a Key Role In Reducing Delinquencies and Related Costs

Increases in default and foreclosure rates have given a new urgency to risk control and default management – and opened up new opportunities to create technological solutions. “I think the lending community has been aware of the need to address the default component... Read More

Study Predicts $112 Billion in Losses From Defaults on Resetting ARMs

Resetting interest rates on ARM loans may cause over a million foreclosures over the next six to seven years, costing lenders and investors about $112 billion, according to a study released this week by First American CoreLogic. The study asserts that 13 percent of... Read More

Troubles Continue to Mount in Subprime Market; Two Lenders Grab Expensive Life-Lines

More subprime lenders have gone under, one of the largest moved closer to the brink and lenders with more diversified business are taking hits. On the other hand, a couple of struggling companies grabbed life-lines this week that will keep them afloat, at least... Read More

GE Capital Buys PHH Corp; Plans to Sell Mortgage Operations to Blackstone Affiliate

GE Capital Solutions has agreed to acquire PHH Corp in an all-cash transaction worth about $1.8 billion, roughly a 13 percent premium. As part of the deal, GE will sell the prime mortgage origination and servicing operations of PHH to an affiliate of The Blackstone Group... Read More

Charter Mac Reports 30 Percent Loss, Improvement in 4th Quarter

Charter Mac this month reported 2006 net income of $41.29 million, down 30 percent from the year before, as the company completed a corporate overhaul that significantly broadened its marketplace focus. But the company’s fortunes began turning around in the... Read More

Thrift Revenue from Mortgage Servicing Rights Dropped in 2006

A fourth-quarter rebound in mortgage servicing income was not enough to offset a disastrous third quarter, and thrift servicers ended 2006 having reaped 30 percent less servicing income than in 2005.Thrifts saw their mortgage... [Includes one chart and one graph] Read More

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