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Inside Mortgage Finance

August 18, 2006

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Correspondent Production Edges Ahead in 2Q06, Retail Stabilizes

The unexpected surge in mortgage lending during the second quarter of 2006 was fueled by solid rebounds in retail branches and correspondent production, where a power struggle among the indus-try’s top lenders continued to unfold. Retail production climbed 13.9 percent from the first three months of the year to an estimated $295 billion during the second quarter. Most of the retail volume increase came in traditional lending through branch offices...[Three data tables included] Read More

Originations for Mortgage REITs up in 2006 But Profits, Company Futures are Cloudy

Much like the overall mortgage market, earnings for the top residential mortgage REITs were up in the second quarter of 2006 compared to the previous quarter, but trailed the levels reached during the first half of last year. However, according to an analysis by Inside Mortgage Profitability, an affiliated newsletter, the top residential mortgage REITs (companies with their own production capacity as well as retained in-vestment portfolios) took more than...[One data table included] Read More

Groups Raise Concerns About HUD’s Proposed ‘Fast Track’ to Identify Predatory Practices

Many industry experts say the Bush administration’s little-noticed plan to change how “predatory” loans are identified in Fannie Mae and Freddie Mac business is vague and unnecessary. The Department of Housing and Urban Development in June issued a proposed rule that would create a new fast-track process for determining whether certain lending practices are predatory and should not qualify for credit under the affordable housing goals set for the two government-sponsored enterprises... Read More

GSE, FHA Reform Not the Only Issues for Mortgage Industry as the Legislative Session Winds Down

With the clock rapidly ticking down on the Congressional calendar, mortgage bankers still have a long list of items on their wish list. Most of the attention this year has focused on efforts to create a new regulatory scheme for Fan-nie Mae and Freddie Mac – an endeavor that has proved futile, as House and Senate lawmakers have been unable to reach a consensus on such key issues... Read More

Fannie Decides Not to Use New Computerized Mortgage System That Customizes Loan Options for Borrowers

Fannie Mae apparently will not deploy a new invention designed by company staff that would develop customized loan recommendations for individual borrowers. The system, for which the government-sponsored enterprise recently received a patent, would design loan products from the ground up that can be adapted to borrowers’ changing needs and goals. Its goals were to replace the standard practice of refinancing, help borrowers avoid the subprime market, and enable lenders to... Read More

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