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Inside Mortgage Trends

February 4, 2011

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FHFA Servicing Fee Reform Could Change Competitive Dynamics

­The Federal Housing Finance Agency’s initiative to find a new structure for mortgage servicing compensation could create openings for new competition in the industry, but there is little firm agreement as to the character of the proposed changes, say experts. Last month the FHFA announced... Read More

Ally Quarantines Legacy Mortgage Issues

Ally Financial’s mortgage business successfully turned the corner to profitability in 2010 as the company finally put a lid on its legacy non-agency issues. In preliminary results, Ally said it earned $663 million from its mortgage operations last year, a huge improvement over the $6.265 billion it lost...[Includes one chart] Read More

More Banks Compete In Warehouse Sandbox

Look for the warehouse lending market to continue to fill with players from community banks in 2011 as the size and shape of the post-financial crisis market continues to reconstitute itself. Two such players – People’s United Bank (Bridgeport, CT) and Dallas-based NexBank Capital – see... Read More

Cancellations Inhibit Growth for HAMP

New data on the Home Affordable Modification Program released by the Obama administration show some modest gains in new activity during the fourth quarter that were significantly offset by a heavy flow of cancellations. Cumulative totals of trial modification offers, new trials started and permanent restructuring continued...[Includes one data chart] Read More

Tech Helps Small Mortgage Banks Keep Up

First National Bank – Fox Valley, a community bank based in Appleton, WI, that has four offices and about $3 million in annual revenue, has been around more than 150 years. But management doesn’t let those old roots entangle its business philosophy or stymie its use of technology to grow the mortgage business. Karri Bedor, assistant vice president for mortgage banking, says... Read More

Refi Swoon Puts Pressure on Purchase Lending

A widely-anticipated slump in mortgage refinance business will make it more important that lenders find a way to originate purchase-money mortgages in a housing market that’s still trying to feel its way out of its worst recession in 80 years. Mike Jablonski, mortgage retail production manager at BB&T, notes... Read More

Veros Might Help UMDP Implementation

Industry observers are hoping that the Fannie Mae and Freddie Mac data quality initiative known as the Uniform Mortgage Data Program will be able to proceed in a more consistent manner, now that a key contract has been awarded to a top industry technology vendor. The UMDP was announced... Read More

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