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Inside Mortgage Trends

April 3, 2009

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Mortgage Agencies May Get Involved In Warehouse Lending Problem

Industry efforts to get the government-sponsored enterprises somehow involved in addressing the plunge in warehouse lending over the last two years are closer to paying off, as the regulator for Fannie Mae and Freddie Mac is reportedly considering granting the pair some role to help solve the crisis. The availability of warehouse funding has plummeted from about $260 billion to just... Read More

Direct GSE Delivery May Help

A handful of mid-size mortgage bankers appear to be addressing the shortage of warehouse financing by selling loans directly to the secondary market, rather than through wholesale lenders. The most recent ranking of top sellers to Freddie Mac reveals several established mortgage companies that in the past had very little direct loan deliveries into Freddie mortgage securities pools... Read More

Administration’s PIPP: First Step to Recovery?

The Obama administration’s Public Private Investment Program may provide the spark for recovery in the U.S. financial markets, with its securities component having a much greater likelihood of working than the loan component, according to Wall Street analysts. Announced by Treasury Secretary Timothy Geithner March 23, the PIPP is designed to remove toxic real estate-related loans... Read More

Servicing Gains Outweigh Production Losses

Mortgage bankers generally lost money on their mortgage production operations in the fourth quarter of 2008 but were able to offset those losses with positive results on their servicing operations, according to a new analysis by Inside Mortgage Profitability. A representative sample of eight mortgage-banking operations showed a combined loss of $157.5 million... [Includes one chart and one graph] Read More

House Clamps Down on Executive Compensation

Lawmakers on Capitol Hill lashed out at top executives in the financial services industry by enacting legislation that would significantly lower compensation at companies receiving assistance under the Troubled Asset Relief Program. Passing the House by a vote of 247-171, the Grayson-Himes Pay for Performance Act, co-sponsored by Reps. Alan Grayson, D-FL, and Jim Himes, D-CT, would authorize... Read More

‘Cloud Computing’ Can Boost Efficiency

The mortgage industry has been dancing with the core concept of “cloud computing” for several years, but the need to improve efficiency while upgrading work quality that’s being driven by today’s dire market conditions could push more companies to restructure their information management architecture. Cloud computing – a buzz phrase meaning a system design in which users... Read More

Vendors Gear Technology to Booming FHA

Technology vendors are racing to catch up to the booming FHA program, a segment of the market that had drifted toward irrelevance for years before suddenly taking center stage in the distressed mortgage market of 2008. With FHA lending accounting for close to 30 percent of new production, various companies are offering new products to make processing these loans more efficient. Among them... Read More

Technology Update

NIR Credit Partners LLC recently announced it was expanding its portfolio valuation... Residential Credit Solutions plans to implement Overture Technologies’ Mozart for... Mortgage servicers eager for help on dealing with the new Making Home... Ellie Mae recently announced the release of its HVCC-Compliant Appraisal... Read More

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