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Inside Mortgage Trends

May 21, 2010

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Experts Predict Further Production Decline as Refi Market Contracts

Steadily rising mortgage interest rates and a tepid recovery in housing markets point toward a further decline in mortgage origination activity in the second half of this year, industry experts predict. The consensus view of mortgage industry economists is that new loan originations are likely to decline by about 30 percent this year, compared to... [Includes one chart and one graph] Read More

Compliance Helps Push eMortgage Evolution

New technology can propel a revolutionary change in business processes and efficiency, but the adaptation of electronic mortgage solutions has been a very gradual process that is still largely confined to distinct phases of the lending cycle. Although a number of lenders offer electronic delivery of various mortgage disclosure documents, only a handful are... Read More

Captive MI Units Face Reversal in Premium Flow

Mortgage lenders’ captive reinsurance units that for years have piled up premiums from mortgage insurance policies are now seeing more of those premiums flowing back the other way to cover losses.Captive reinsurance units sponsored by mortgage lenders held some $3.564 billion of MI premiums classified as recoverable by their private MI partners at the... [Includes one chart] Read More

Redwood Pursuing Jumbo Through Flow Program

Redwood Trust, the California real estate investment trust that last month created a buzz in the securitization industry by issuing a non-agency residential mortgage-backed security, announced last week that it will start buying mortgages on a flow basis. The company said it has begun buying jumbo mortgages on a flow basis – individually as the loans are originated... Read More

Quicken Loans Resells Expertise

New mortgage origination opportunities are attracting financial institutions to offer a variety of mortgage products but many, especially the smaller institutions, are balking at the high cost of hiring mortgage consultants and underwriters. Quicken Loans, a leader in using online lending technology, has stepped up to offer its expertise to small and midsize banks and credit... Read More

Modified Loans Should Remain in MBS Pool

Modified impaired mortgage loans should be kept in a pool and not removed and accounted for separately, even if the modification is part of a troubled debt restructuring, according to the Financial Accounting Standards Board. The amended guidance is the result of FASB’s review of accounting rules governing Topic 10 Receivables, which deals in part with... Read More

Fannie’s LQI Confuses Lenders

A nascent cottage industry has sprung up around helping mortgage lenders comply with Fannie Mae’s still evolving Loan Quality Initiative and to deal with the confusion and lack of clarity it’s reportedly causing. “Fannie’s Loan Quality Initiative has come as a surprise to a number of lenders, and many of our clients hadn’t even heard of it,” said Greg Holmes... Read More

First American, Ellie Mae Eye IPOs

The First American Corp. is proceeding with plans to cash out of two of its mortgage industry-related holdings and place control of the entities into the hands of public investors. First American is splitting its Information Solutions Group (CoreLogic) and its Financial Services Group into two separate, publicly traded companies on the New York Stock Exchange... Read More

Technology Briefs

Montville, NJ-based Mortgage Pricing Systems, developers of pricing solutions for mortgage lenders... Compass Analytics, a provider of mortgage valuation analytics and risk management services based in... HOPE LoanPort, developed by the Washington, DC-based HOPE NOW Alliance, recently launched a consumer... Read More

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