Cart

Inside Mortgage Trends

January 4, 2008

View Archived Issues

Mortgage Insurance Losses Spike in November, Presaging More Bad News for the Industry

The Mortgage Insurance Companies of America, the industry’s trade association, reported last week that the default rate on mortgages backed by private insurance leapt 35 percent in November, when 61,300 insured borrowers were at least 60 days late on their... Read More

FDIC Outlines Procedures for Analyzing HMDA Data and Follow-Up Investigations

Enforcement actions and class-action lawsuits stemming from violations of federal or state fair lending laws not only are major distractions to the business of lending but constitute serious threats to an institution’s profitability. In a recent issue of... Read More

Lenders Have Barely Begun Tapping Online Origination of Home-equity Products

With the traditional mortgage market in turmoil, lenders are even harder pressed to find ways to boost revenues. But they have failed to fully utilize a major tool for developing the home-equity market: the Internet. Wells Fargo introduced the... Read More

Economists See Modest Origination Revival in 2008 But No Profitability in Mortgage Industry Until 2009

After a severe contraction in new mortgage lending in the last half of 2007, lenders may see a modest revival in new originations this year, according to industry economists. But volatile secondary markets and rising credit costs leave the mortgage profit picture... Read More

PHH Merger Officially Off; Company Seeks $50 Million Termination Fee from Blackstone

PHH Corp., whose mortgage interests were promised to the Blackstone Group, formally terminated a merger agreement after the would-be purchasers were unable to obtain financing by the Dec. 31 deadline.The deal foundered after JPMorgan Chase and Lehman Brothers... Read More

Impac Continues Hasty Retreat from Lending, While National City Leaves Wholesale Business

Impac Mortgage Holdings late last month belatedly reported a loss of $1.2 billion for the third quarter of 2007, as the real estate investment trust continues to beat its hasty retreat from mortgage lending. The Irvine, CA-based company increased loss provisions by... Read More

Fledgling Nationwide Bank Was the Most Profitable Mortgage-Focused Bank for Second Straight Quarter

The most profitable bank or thrift with at least half of its assets in mortgages and mortgage securities as of September 2007 is Nationwide Bank. The fledgling retail banking arm of Nationwide Financial Services, best known... [Includes one chart and one graph] Read More

Latest Imf News

More Imf News

Featured Data

More Featured Data

Featured Reports

More Latest Reports

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

View Results