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Inside Mortgage Finance

December 8, 2006

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‘Alternative’ Mortgage Product Binge Loses Steam In Third Quarter With Sharp Drop in IO Lending

With more regulators looking over their shoulders, mortgage lenders began to turn down the volume on what has been the industry’s biggest growth engine over the past two years: alternative mortgage products. An estimated $236.0 billion... [Includes three charts] Read More

Regulators Try to Clarify Implementation of Nontraditional Loan Guidance but Leave a Lot of Unanswered Questions

Federal banking and thrift regulators last week outlined a somewhat general approach to implementing newly issued guidelines on nontraditional mortgage lending, clarifying some key issues but still leaving lenders scratching their heads and many industry questions... Read More

Lenders to See More Pressure on Nontraditional Mortgages As OFHEO is Developing its Own Guidance for the GSEs

The Office of Federal Housing Enterprise Oversight appears set to get in on the regulatory witch hunt on nontraditional mortgage loans by issuing a landmark directive on Fannie Mae’s and Freddie Mac’s involvement in this market. OFHEO Director James Lockhart last week indicated... Read More

Countrywide, New York State Forge HMDA Settlement, Preemption Concerns Arise

This week, Countrywide Home Loans agreed to a settlement with New York State regarding racial disparities found in 2004 Home Mortgage Disclosure Act data. While Countrywide received a relatively light penalty, analysts suggest that the settlement, the first based... Read More

GSE Reform Still a Hot Topic as Congress Winds Down, FHA Loan Limit Hike a Priority in 2007

As the 109th Congress wrapped up what looks like its final week in session, lawmakers haggled over long-stalled legislation that would create a new regulator for Fannie Mae and Freddie Mac. But analysts predict that the flurry of negotiations only sets the tone for... Read More

GSE Reform, Preemption, FHA Modernization Top Frank’s Priorities as House Financial Services Chair

Rep. Barney Frank, D-MA, the incoming chairman of the House Financial Services Committee, has a keen interest in mortgage-industry issues and will steer the committee to consider government-sponsored enterprise reform, federal preemption and FHA modernization in the... Read More

Thrifts Manage Small Increase in Mortgage Originations in 3Q06, Boost Purchase Volume

Thrift institutions bucked overall market trends and reported a small increase in new mortgage production during the third quarter of 2006, according to the Office of Thrift Supervision. OTS-regulated lenders originated some... [Includes one chart] Read More

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