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Inside Mortgage Trends

June 20, 2008

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FDIC Stresses Importance of Managing Third-Party Risks

The use of third parties can vastly improve a financial institution’s profitability either by increasing revenues or reducing costs. Third-party expertise and efficiency can also come in handy when embarking on a new business activity or venture. Outsourcing functions typically come to mind when talking about third-party relationships, but financial institutions have found... Read More

Xerox Announces New Product Aimed To Make Loan Process More Efficient

Xerox Mortgage Services is implementing an e-signature process designed to help lenders process loans faster and improve efficiency while enhancing customer service. The secure e-signature tool is one component in the company’s BlitzDocs Collaboration Suite, a system for managing documents in paper, imaged and electronic loan form... Read More

PHH Mortgage Rebounds from Failed Sale as Business Picks Up in Early 2008

The mortgage business of PHH Corp. appears to be moving full-steam ahead, after the parent company’s sale to GE/Blackstone was terminated early in 2008. “As we move forward [post-Blackstone], we’ve got our team focused on moving the business forward and maximizing financial flexibility,” said PHH Corp. President and... Read More

Housing Challenges Lie Ahead For Struggling Mortgage Industry

The mortgage industry may have to wait another year or more before things start to turn around. Sandler O’Neill and Partners, an investment strategy group, claims it may take over a year before bank balance sheets that are loaded with single-family mortgages and home-equity loans begin to stabilize and show improvement. That’s largely because the cyclical... [Includes one chart and one graph] Read More

Plan to Spike QSPEs Will Hurt Lenders, Industry Group Warns

The Financial Accounting Standards Board is considering a proposal to eliminate “qualifying special purpose entities,” or QSPEs – a move that could adversely affect banks’ bottom lines. The proposal has the mortgage banking industry worried because it could force lenders to place up to $5 trillion of assets and liabilities held by QSPEs on their books and... Read More

Lenders Need to Improve Oversight Of Mortgage Broker Production

The mortgage industry has turned its production focus sharply toward retail originations, but mortgage brokers continue to play a significant role in the market. If banks want to maximize their mortgage lending opportunities and minimize their risks, they need to perform better due diligence on the brokers they deal with, pay... Read More

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