Inside Mortgage Trends

Mortgage Banking Profits Forecast to Decline Further in 2008 Due to Ongoing Credit Crunch

Banks and thrifts are expected to take another shellacking from their mortgage banking operations in 2008, as well as their holdings in mortgage-related securities, according to a recent analysis by Freidman, Billings, Ramsey & Co. “We are lowering our earning... Read More

PMI Reports $1 Billion Loss, Thornburg Makes A Deal, Subprime Servicing Sales Announced

The PMI Group reported a $1 billion fourth-quarter loss last week, adding to the $2.34 billion in losses already reported by its six competitors in the mortgage insurance business. The Walnut Creek, CA-based company, the second-largest mortgage... Read More

Mortgage Income at Commercial Banks Dived In the Fourth Quarter, Capping a Dismal 2007

Commercial banks reported a massive 57.77 percent plunge in net income from their mortgage banking operations from the third quarter to the fourth quarter of 2007. New mortgage originations fell just 3.55 percent during the... [Includes one chart and one graph] Read More

Former Countrywide President Joins the Ranks of Investors Looking for Deals on Distressed Loans

Still more new business ventures are springing up with the aim of and cashing in on the mortgage crisis by purchasing loan portfolios at discount prices. Former Countrywide Financial Corp. President Stanford Kurland recently launched Private National... Read More

Mortgage Fraud Seen Spreading, Lenders Advised To Screen Borrowers and Employees Carefully

Fraud contributed to the losses lenders suffered in the mortgage meltdown, and appears to be increasing even more as underwriting tightens and borrowers and industry employees fight to get loans approved. Interthinx, an Agoura Hills, CA-based provider of... Read More

Analytic Tools, Non-Threatening Approaches Key to Loss Mitigation Success, Servicers Say

Leading mortgage servicers have found that mitigating the shame and embarrassment associated with foreclosure produces more successful workout plans. Approaching distressed borrowers calmly and with agreeable refinancing strategies will make... Read More

Poor Risk Management, Analysis Unsuited for New Investments Caused Wall Street’s Subprime Shock

Inadequate risk management systems and lack of information about complex mortgage investment products caused Wall Street decisionmakers to miscalculate their risk exposure, which eventually resulted in massive subprime losses, according to a... Read More

March 28, 2008

View Archived Issues

Mortgage Banking Profits Forecast to Decline Further in 2008 Due to Ongoing Credit Crunch

PMI Reports $1 Billion Loss, Thornburg Makes A Deal, Subprime Servicing Sales Announced

Mortgage Income at Commercial Banks Dived In the Fourth Quarter, Capping a Dismal 2007

Former Countrywide President Joins the Ranks of Investors Looking for Deals on Distressed Loans

Mortgage Fraud Seen Spreading, Lenders Advised To Screen Borrowers and Employees Carefully

Analytic Tools, Non-Threatening Approaches Key to Loss Mitigation Success, Servicers Say

Poor Risk Management, Analysis Unsuited for New Investments Caused Wall Street’s Subprime Shock

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