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Inside Mortgage Trends

March 6, 2009

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Jumbo Mortgage Sector Taking Its Lumps in Soured Market

The jumbo mortgage market – both the part that’s over the high-cost conforming loan limits and the part that can be sold to the agencies – has been sharply curtailed by secondary market pricing issues and the downturn in home prices. While some large banks saw the rapid decline in the securitization of jumbo loans as a sign of potential profit through portfolio funding, deteriorating house... Read More

Lenders Expected to Outsource More

About 36 percent of mortgage lenders surveyed expect to “increase” or “significantly increase” their use of origination outsourcing services in the next year or so, according to a recently released white paper by the Stratmor Group, a provider of consulting and investment advisory services. “This survey shows that even though the respondents in many or most cases weren’t currently... Read More

FDIC Rule Hits Heavy FHLBank Users

Federally insured depository institutions that are heavy users of Federal Home Loan Bank advances will now face higher costs for doing so, after the Federal Deposit Insurance Corp. approved a new assessment scheme last week to replenish the dwindling deposit insurance fund. The revised deposit insurance assessment scheme includes a complex formula that results in higher... Read More

Commercial Banks Post Loss on Mortgage Banking

The top commercial banks in the industry reported a large $5.484 billion loss on their mortgage banking operations during the fourth quarter of 2008, according to a new analysis of call report data by Inside Mortgage Profitability. It was the first quarterly loss in mortgage banking activities for... [Includes one chart and one graph] Read More

Obama Housing Program Challenges Industry

The Obama administration this week launched two massive relief programs for the troubled U.S. mortgage market that will likely provide lenders a surge in new refinancing business and better guidelines for tackling the mortgage default problem. Fannie Mae and Freddie Mac – technically private companies in conservatorship but functioning more like instruments of... Read More

Technology Briefs

Lend America has shifted to a paperless operation to enhance “overall efficiency, regulatory... The mortgage industry now has its own YouTube of sorts. Mortgage Coach has.. Property management and real estate companies confused by all of the... As the number of mortgage fraud cases continues to remain high, loan servicers... Read More

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