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Inside Mortgage Trends

June 6, 2008

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Industry Wrestles With Valuations In Distressed Secondary Market

Among the major challenges facing mortgage industry executives is the valuation of mortgage securities and other assets in a market that has been in a deep slump for nearly a year. “The recent credit market turbulence has made any kind of... Read More

MetLife Buys Major Stake In Mortgage Banking Industry

MetLife Bank, a $7.6 billion bank owned by the largest U.S. life insurance firm, agreed to buy most of First Horizon’s mortgage banking business. First Horizon has been looking for a way to pare down its mortgage banking operation that has produced desultory... Read More

Cerberus, GMAC Renew Lifeline To Keep ResCap Business Afloat

Investors continued trying to shore up Residential Capital, the eighth largest lender in the market that has nearly been swamped by liquidity problems. GMAC, the parent of ResCap that was spun off from General Motors, put together some $60 billion... Read More

HUD: No Heavy RESPA Cost Burden on Small Firms

Even though small businesses would bear the brunt of one-time and recurring compliance costs, federal housing regulators believe this segment of the mortgage industry will remain competitive and profitable despite a radically altered mortgage settlement process... Read More

Quality Control Deficiencies Aided Mortgage Banking Crisis

You can add one more item to the list of factors contributing to the subprime mortgage market collapse and the resulting crisis in the credit market – a distinct lack of quality control – which produced the obvious assault on profitability. That’s a key argument being... Read More

Regulator Urges Home-Equity Lenders to Tighten Underwriting as Housing Weakens

Losses on home-equity loans are well above historical averages and are expected to continue to rise. The Office of the Comptroller of the Currency recently warned that national banks need to carefully examine their home-equity lending operations. In a speech at the... Read More

Top Banks Show Improved Profits From Mortgage Banking Activity

Mortgage banking appeared to be significantly more profitable for commercial banks in the first quarter of 2008, although the sector is hardly yielding huge gains. A group of 50 large commercial banks reported a combined $962 million... [Includes one chart and one graph] Read More

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